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superapp goes public, trading on Nasdaq

Southeast Asia is dwelling to a number of so-called “tremendous apps”–apps that you are able to do every part in from order groceries to be delivered to your door to managing monetary companies. Probably the most widespread such superapps is Seize, which is lastly going public in the present day. Right here’s what it is advisable know:

  • What’s Seize? It’s a superapp with over 670 million customers in Southeast Asia. It operates in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam throughout 465 cities. Seize was based in 2012. It’s a rideshare, meals supply, e-wallet app, and extra all rolled into one.
  • How is Seize going public? Seize will go public in the present day by way of an SPAC, not a conventional IPO. A SPAC is basically a shell firm already listed on the inventory market that acquires one other firm as a roundabout manner of taking that firm public.
  • What market will Seize commerce on? Seize will commerce on the Nasdaq starting in the present day, December 2, 2021.
  • What is going to Seize’s inventory ticker be? Seize will commerce below the image “GRAB.”
  • The rest I ought to find out about Seize’s public debut? In response to Seize’s press release, the corporate’s Nasdaq debut would be the “largest-ever U.S. public market debut by a Southeast Asian firm” and have its Nasdaq bell-ringing ceremony held in Singapore–a primary for Nasdaq.

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