Grab eyeing U.S. IPO this year - sources

Ride hailing and food delivery giant Grab may list its shares in the U.S. this year.

Reuters sources say the firm is considering the move amid robust investor appetite for IPOs.

One source says the offering could raise 2 billion dollars - likely making it the largest overseas share sale by a Southeast Asian company.

The size and timing of any issue haven’t been finalized, and there was no comment from the firm.

Grab has expanded rapidly since it was founded in 2012 as a Malaysian ride hailing venture.

It’s now the region’s most valuable startup, worth more than 16 billion dollars.

Backers include Japan’s Softbank Group and Mitsubishi UFJ Financial.

Grab now also offers financial services, and has a digital banking license in Singapore.

It says its ride hailing services are breaking even in all markets, with food delivery set to do the same by the end of this year.