Grab, Sea price slump could affect S-E Asian unicorns going public

Grab listed on the Nasdaq last December through a US$40 billion special purpose acquisition company (Spac) deal. PHOTO: ST FILE
New: Gift this subscriber-only story to your friends and family

SINGAPORE - The slumping share prices of South-east Asian tech giants Sea and Grab combined with geopolitical tensions and surging inflation could derail the listing ambitions of leading Singapore and regional start-ups, industry observers said.

Super app Grab, which listed on the Nasdaq last December through a US$40 billion (S$53 billion) special purpose acquisition company (Spac) deal, has seen its share price fall to around US$3.75, a far cry from its listing intra-day high of US$13.06 and debut close of US$8.75.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.