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Grab, Sea price slump could affect S-E Asian unicorns going public
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Grab listed on the Nasdaq last December through a US$40 billion special purpose acquisition company (Spac) deal.
PHOTO: ST FILE
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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.
