Grab Holdings, South-East Asia's largest ride-hailing and food delivery company, is set to list on the Nasdaq on December 2, subject to the approval of the shareholders in the SPAC it is merging with.
It said in an SEC disclosure that the shareholders of Altimeter Growth will meet on November 30 to approve the business combination, which will be completed on December 1.
Earlier this year Singapore-based Grab announced a merger with the Nasdaq-listed SPAC at a valuation of US$39.6bn, a big jump from a valuation of just over US$16bn last year.
The merger includes a US$4bn private investment in public equity, led by US$750m from funds managed by Altimeter Capital Management.
Investors in the PIPE include funds and accounts managed or advised by BlackRock, Counterpoint Global (Morgan Stanley Investment Management) and T Rowe Price Associates, as well as Fidelity International, Fidelity Management and Research, Janus Henderson Investors, Mubadala, Nuveen, Permodalan Nasional and Temasek.
Evercore was lead financial adviser to Grab. JP Morgan and Morgan Stanley were co-advisers.