Grab shares rebound after executives buy more than $30 million of stock

  • Anthony Tan and Alex Hungate bought Grab shares after the stock reached a three-year low.
  • $30 million was spent by Tan, while Hungate bought approximately $867,000 of shares.
  • Grab announced a potential $4.5 billion Atome Financial transaction and a $900 million buyback.

Grab Holdings shares closed 8.9% higher on Tuesday after CEO Anthony Tan bought $30 million of stock and President Alex Hungate purchased about $867,000, according to U.S. Securities and Exchange Commission filings. The buying followed a 50% decline over the previous year and a drop to $2.74 on Friday, Grab's lowest level since May 2023. The selloff came after Grab announced plans to acquire buy-now-pay-later provider Atome Financial in a transaction that could ultimately value the target at up to $4.5 billion. Grab also announced a planned $900 million share buyback over 12 months. An earlier account described the executives' purchases as 10.65 million Class A shares worth more than $30.7 million, and reported a $1.49 billion cash purchase of a controlling 60% stake in Atome Financial, alongside a separate $750 million repurchase authorization. Grab's second-quarter revenue was $997 million, up 22% year over year, while adjusted EBITDA rose 54% to $168 million. Management raised its full-year outlook. Investors remain focused on free cash flow, growth, mobility economics, promotional spending and whether the Atome transaction can support Grab's financial-services expansion.

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