(Bloomberg) -- Southeast Asian ride-hailing giant Grab Holdings Inc. has picked banks for a potential U.S. initial public offering, that could raise at least $2 billion, according to people familiar with the matter.
Morgan Stanley and JPMorgan Chase & Co. have been selected to work on a listing that could happen as soon as the second half of this year, the people said. More banks could be added and details of the offering could change as deliberations continue, said the people, who asked not to be identified as the information is private.
Grab’s IPO considerations come after talks to combine with Indonesian rival Gojek stalled. The latter startup is now in advanced discussions to merge with local e-commerce pioneer PT Tokopedia instead, creating a powerful regional player in online services that may then seek to go public, Bloomberg News reported this month. A Gojek-Tokopedia tie-up could create a Southeast Asian powerhouse with a valuation of about $18 billion and businesses encompassing ride-hailing and payments to online shopping and grocery delivery.
Read more: Gojek Is Said in Talks With Tokopedia for $18 Billion Merger
That could threaten Grab’s own effort to expand across the region, particularly in the largest market of Indonesia. The Singapore-based company backed by SoftBank Group Corp.. grew net revenue 70% in 2020 after bouncing back from a Covid-19 trough. The startup, which was last valued at more than $14 billion, is now angling to delve deeper into online finance and food delivery.
Representatives for Grab, Morgan Stanley and JPMorgan declined to comment.
Más Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
