Grab falls in U.S. market debut after SPAC merger

AGC

02/12/2021 15:35

(Updates)
    ** Southeast Asia's largest ride-hailing and delivery firm
Grab's shares  GRAB.O  down 0.5% at $10.96 in U.S. market debut,
reversing early gains
    ** The biggest U.S. listing of a Southeast Asian firm
follows its record $40 billion merger with blank-check firm
Altmiter Growth Corp  AGC.O   urn:newsml:reuters.com:*:nL1N2SM3J3    
    ** GRAB is the No. 3 trending stock on investor-focused
social media platform StockTwits.com, as retail investors turn
their attention to the nine-year-old Singapore company's market
debut
    ** AGC was also among the top trending stocks on
StockTwits.com in premarket trading 
    ** Nearly 10 mln shares trade as of 1025 EST, double AGC's
25-DMA 
    ** Shares of AGC closed at $11.01 on Wednesday, reversing
early gains and falling nearly 13.3% after shareholders approved
the deal  urn:newsml:reuters.com:*:nL4N2SM32B

 (Reporting by Bansari Mayur Kamdar and Medha Singh in
Bengaluru)
 ((BansariMayur.Kamdar@thomsonreuters.com;))