Seize made waves earlier this week after confirming its intention to go public in the United States in partnership with Altimeter Progress Corp.
This partnership is the largest blank-cheque firm deal on report, and the proposed transaction will give Seize a market worth of about US$39.6 billion (S$53.1 billion).
In response to Seize, the merger with the particular goal acquisition firm (SPAC) is anticipated to supply them with as much as US$4.5 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 now that Seize is within the early levels of contemplating a secondary itemizing in Singapore, based on three sources aware of the matter.
They added that this potential itemizing on the Singapore Change would permit Seize to have an investor base near the place its regional enterprise is predicated. It will allow prospects, drivers and service provider companions simpler entry to commerce its shares.
Seize Is Shaking Up SEA’s Financial 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 financial system, and specifically its startup ecosystem.
It should widen the door for numerous worldwide buyers to faucet into one of many world’s fastest-growing web markets. It might additionally assist different regional unicorns observe swimsuit as SEA challenges the U.S. and China’s dominance within the tech scene.
Thus far, 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 practically fivefold final 12 months, displaying the massive urge for food of buyers for high-growth tech firms within the area.
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 might justify its US$39.6 billion valuation, which is sort of 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 resolution to turn out to be a public firm was pushed by robust monetary efficiency in 2020, regardless of COVID-19. On the identical time, the corporate has made vital strides in the direction of profitability, with a key deal with constructing a resilient enterprise and delivering sustainable development.
“As we turn out 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.
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