superapp goes public, trading on Nasdaq

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Southeast Asia is house to a number of so-called “tremendous apps”–apps that you are able to do the whole lot in from order groceries to be delivered to your door to managing monetary companies. Some of the widespread such superapps is Seize, which is lastly going public right now. Right here’s what you might want to 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 right now by way of an SPAC, not a conventional IPO. A SPAC is actually a shell firm already listed on the inventory market that acquires one other firm as a roundabout approach of taking that firm public.
  • What market will Seize commerce on? Seize will commerce on the Nasdaq starting right now, December 2, 2021.
  • What is going to Seize’s inventory ticker be? Seize will commerce below the image “GRAB.”
  • The rest I ought to learn about Seize’s public debut? In accordance with 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.