By Anshuman Daga
SINGAPORE (Reuters) – Southeast Asian ride-hailing and meals supply big Seize is exploring a list in america this yr, inspired by strong investor urge for food for IPOs, three sources conversant in the matter informed Reuters.
The IPO might elevate no less than $2 billion, one of many sources mentioned, which might seemingly make it the biggest abroad share providing by a Southeast Asian firm.
“The market is nice and the enterprise is doing higher than earlier than. This could work properly for public markets,” he mentioned.
The plans, together with the scale of the problem and timing, haven’t been finalised and are topic to market circumstances, mentioned the sources, who declined to be recognized as they weren’t authorised to discuss the matter.
Singapore-based Seize declined touch upon the potential IPO.
Seize, whose backers embrace SoftBank Group Corp and Mitsubishi UFJ (NYSE:) Monetary Group, has expanded quickly from its beginnings as a ride-hailing enterprise in Malaysia in 2012 to change into the area’s most useful startup value greater than $16 billion.
The corporate, which additionally provides monetary companies and lately gained a digital financial institution licence in Singapore, mentioned this month that group income had recovered to be comfortably above pre-pandemic ranges. It has additionally mentioned its ride-hailing enterprise is breaking even in all its working markets, together with Indonesia, the most important. It expects its meals supply enterprise to interrupt even by the top of the yr.
The IPO plans would come after merger discussions with Indonesian rival Gojek have been dropped.
Gojek and Indonesian e-commerce chief Tokopedia are in superior talks for a $18 billion merger forward of a possible twin itemizing in Jakarta and america, Reuters reported this month.
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