Grab mulls secondary Singapore listing - sources

Southeast Asia's ride hailing and delivery giant Grab Holdings is considering a secondary listing in its home market Singapore after completing a Nasdaq listing via a $40 billion SPAC merger, according to sources.

Listing on Singapore Exchange would enable Grab to have an investor base close to where its regional business is based,

potentially offering its customers, drivers and merchant partners easier access to trade its shares.

Grab is a household name across Southeast Asia and is in the early stages of considering a secondary listing in the city-state, the sources said.

The potential Singapore listing plans come after Grab this week agreed a $40 billion merger with Altimeter Growth Corp- making this the world's biggest SPAC deal.

Grab began as a ride-hailing business in 2012 and now operates in eight countries and more than 400 cities.

It has has expanded into food and grocery deliveries, as well as digital payments.

It also won a digital banking license in Singapore last year.