Grab and Traveloka Will Soon Take the Floor on the US Stock Exchange

JAKARTA, KOMPAS.com – Company on demand services from Singapore, Grab, and company Indonesian ticket booking service, Traveloka, will soon conduct an initial public offering or initial public offering (IPO).

Reporting from Bloomberg, Tuesday (13/4/2021), this week Grab announced its IPO plan through special purpose acquisition company (SPAC) United States (US) supported by investment manager T. Rowe Price to Temasek Holdings Pte, with the company valuation is projected to reach more than 34 billion US dollars.

Traveloka is also rumored to be following Grab’s steps for an IPO, through SPAC with the support of billionaires Richard Li and Peter Thiel. The valuation of one of the Indonesian unicorns is predicted to reach around 5 billion US dollars.

Also read: IDX Conducts Legal Review for Unicorn who will IPO

The steps of the two companies with the status of decacorn and unicorn are projected to trigger a series of IPO actions from startup Southeast Asia, from Gojek, Tokopedia, to startup from Singapore PropertyGuru.

In the long term, the market expects technology companies to be able to grow quickly, even dominating the attention, as happened in China and the US.

“We have seen a similar trend in other, more established markets, and now this is the golden period for Southeast Asia,” said Director of Cathay Capital, Rajive Keshup.

The technology industry in Southeast Asia is home to around 10 of the world’s most populous countries as well as some of the fastest growing economies such as Indonesia.

However, Southeast Asia is no longer seeing giant tech companies holding IPOs after Sea Group decided to take the floor on the New York stock exchange in 2017.

Also read: Leaked IPO Technology Company 1st Quarter of 2021, Unicorn?

– .