Altimeter: The SPAC opportunity to Grab
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The Altimeter Growth Corp (AGC US) SPAC will bring ASEAN digital economy giant Grab to market by July 2021
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It will be the world's largest SPAC deal, and Grab has the potential to become ASEAN's super app
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Our DCF valuation of Grab indicates a target price of US$15, suggesting 27% upside. We initiate coverage with a Buy
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
The Analyst certifies that the views and forecasts expressed in this report accurately reflect their personal views about the subject, securities, or issuers specified herein. In addition, the Analyst certifies that no part of their compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in this report.