From Segambut to New York: GRAB celebrates listing milestone

KUALA LUMPUR: Southeast Asia's leading superapp Grab Holdings Ltd, with the ticker "GRAB", celebrated its milestone US public listing on Thursday with Nasdaq's first-ever opening bell ceremony hosted in the region.

Held in Singapore, the ceremony attended by Grab employees as well as driver-, delivery- and merchant-partners came after the nine-year-old ride-hailing and delivery firm announced its US$40 billion (about RM169.12 billion) merger with a special purpose acquisition company (SPAC).

The firm had in April this year merged with a US tech investor Altimeter Capital Management's SPAC, Altimeter Growth Corp, and raised US$4.5 billion (US$1=RM4.23), including US$750 million from Altimeter.

Grab group chief executive officer and co-founder Anthony Tan said it is important for the ride-hailing and delivery firm not to lose sight of what this was all built on --" the heart and hard work of our Grabbers to serve our partners, and in turn, the dedication of our partners towards serving their customers."

"That's why we chose to hold the ceremony close to home. To be here, amongst our community, sharing the moment with them as we cross the threshold into a new chapter of our journey," he said during the ceremony.

Tan and his co-founder Tan Hooi Ling (not related) were joined onstage during the opening bell with representatives of Grab driver-, delivery- and merchant-partner communities, who were on the frontlines transporting people, preparing as well as delivering food and essential goods, especially during critical stay-home pandemic periods.

In recognition of the collective effort and continued partnership of the Grab community to reach this milestone, about 1,500 Grab employees, as well as representatives from Grab's partner communities, from across Southeast Asia was featured on the Nasdaq Tower in Times Square, New York City, after Grab officially listed on Nasdaq.

From its first office based in Segambut here, Grab's Nasdaq listing has set a high benchmark for startups in the Southeast Asia.

-- BERNAMA