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Seize made waves earlier this week after confirming its intention to go public in america in partnership with Altimeter Development Corp.
This partnership is the most important blank-cheque firm deal on document, and the proposed transaction will give Seize a market worth of about US$39.6 billion (S$53.1 billion).
In line with Seize, the merger with the particular goal acquisition firm (SPAC) is anticipated to supply them with as much as US$four.5 billion in money proceeds.
The mixed firm expects its inventory to be traded on Nasdaq within the coming months.
Following this information, Reuters reported right this moment that Seize is within the early levels of contemplating a secondary itemizing in Singapore, based on three sources accustomed to the matter.
They added that this potential itemizing on the Singapore Trade would permit Seize to have an investor base near the place its regional enterprise relies. It will allow prospects, drivers and service provider companions simpler entry to commerce its shares.
Seize Is Shaking Up SEA’s Economic system
No matter whether or not this secondary itemizing in Singapore will come to fruition, the US itemizing has already marked a brand new chapter for Southeast Asia (SEA)’s economic system, and particularly its startup ecosystem.
It is going to widen the door for numerous worldwide traders to faucet into one of many world’s fastest-growing web markets. It could additionally assist different regional unicorns comply with go well with as SEA challenges the U.S. and China’s dominance within the tech scene.
To date, the one notable publicly listed Web firm from the area is Sea, a Singapore-headquartered and New York-listed on-line gaming and e-commerce firm. Its inventory value rose almost fivefold final yr, displaying the large urge for food of traders for high-growth tech firms within the area.
Picture Credit score: Seize
For now, Seize — which has mentioned its EBITDA (earnings earlier than curiosity, taxes, depreciation and amortisation) won’t flip worthwhile till 2023 — has to point out that it could actually justify its US$39.6 billion valuation, which is almost twice Google’s worth on the time of its preliminary public providing, when the U.S. search large was already worthwhile.
In a public assertion, Seize shared that its determination to grow to be a public firm was pushed by sturdy monetary efficiency in 2020, regardless of COVID-19. On the similar time, the corporate has made important strides in direction of profitability, with a key give attention to constructing a resilient enterprise and delivering sustainable progress.
“As we grow to be a publicly-traded firm, we’ll work even tougher to create financial empowerment for our communities, as a result of when Southeast Asia succeeds, Seize succeeds,” mentioned Seize co-founder and CEO Anthony Tan.
Featured Picture Credit score: PYMNTS
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