Grab execs buy back shares after stock hits 3-year low on Atome deal

Grab Holdings

23/09/2026 08:26

SINGAPORE, Sept 23 (Reuters) - Top executives of Grab GRAB.O bought more than $30 million worth of company shares this week after the Singapore-based ride hailing and financial service firm's stock slumped to a more than three-year low following a deal to acquire a buy-now-pay-later provider.
Here are the details:     
Grab shares tumbled 50% over the past year and fell to $2.74 on Friday, the lowest level since May 2023.
The drop came days after the company announced that it would acquire buy-now-pay-later provider Atome Financial in a deal that could ultimately value the target at up to $4.5 billion. 
Along with the deal, Grab also said it planned to buy back around $900 million shares over the next 12 months, but the announcements on September 15 failed to boost its shares.
On Monday, Grab CEO Anthony Tan purchased shares worth $30 million, with president Alex Hungate also snapping up around $867,000 worth of shares, according to filings to the U.S. Securities and Exchange Commission.
After the purchase, Grab shares closed up 8.9% on Tuesday.
At a company townhall on Tuesday, Tan said, "I have put my money where my mouth is... I believe in our strategy and our direction."

 (Reporting by Jun Yuan Yong; Editing by Miyoung Kim)
 ((junyuan.yong@thomsonreuters.com))