Grab Holdings Inc. is in advanced talks to go public through Altimeter Capital’s first blank-check company, in a deal that could value the Southeast Asian ride-hailing giant at about US$40 billion ($53.6 billion), people familiar with the matter said.

The potential transaction with Altimeter Growth Corp. could involve raising US$2.5 billion to US$3 billion through a private investment in public equity, or PIPE, according to one of the people. Formal talks with prospective PIPE investors could start as soon as next week, the people said, asking not to be identified as the discussions are confidential.

A deal announcement could come as early as April, one of the people said. Evercore Inc., JPMorgan Chase & Co. and Morgan Stanley are advising on the SPAC discussions, and more banks could be added later, according to the people.

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