Behind the Participation of Local Conglomerates in Grab's Pre-IPO

Grab has officially announced to go public on the United States stock exchange using SPAC in collaboration with Altimeter Growth Corp ($AGC). Although it is not fixed on the finalization process, the market currently shows a positive response.

It is proven by the participation of several conglomerates in Indonesia to for the pre-IPO. There are three Indonesian representatives interested in participating through PIPE (Private Investment in Public Equity), Djarum Group, Sariaatmadja Family (EMTEK Group), and Sinar Mas Group. In total there are 14 investors involved in PIPE.

Grab is targeting $ 39.6 billion (around Rp.580 trillion) valuation and raising $500 million fresh fund from $AGC and $4 billion through PIPE. A total $750 million poured as Altimeter's commitment.