Dear readers,
The inscription at the Statue of Liberty reads “Give me your tired, your poor, your huddled masses”. To that, Wall Street adds “and give us your Asian growth businesses seeking steep valuations”. Underlining its financial dominance of tech practically everywhere except China, the US has become the venue of choice for ambitious Asian tech groups.
The trend is epitomised in the plans of superapp Grab to join Nasdaq. This would be the world’s biggest deal involving a special purpose acquisition company (Spac). South-east Asia’s most valuable start-up hopes to list through a reverse merger with Altimeter Growth in the US.
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