Carro could raise up to $642m in US IPO: report

If successful, Carro's listing would be the largest Southeast Asian IPO in the US since 2017.

Singapore-based Carro is preparing for a United States initial public offering as early as 2026 that could raise $642m (US$500m), according to a Reuters report.

If successful, Carro's listing would be the largest Southeast Asian IPO in the US since 2017 and the third biggest Southeast Asian high-tech IPO in the US.

It would also be the first major automotive tech and artificial intelligence-driven commerce startup from Singapore to go public in the United States.

The IPO size is still under discussion and may change depending on market conditions, Reuters said, according to its sources.

($1=US$.077)