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Anthony Tan and Alexander Hungate Buy Over US$30 Million in Grab Shares

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Anthony Tan and Alexander Hungate Buy Over US$30 Million in Grab Shares

Grab executives Anthony Tan and Alexander Hungate have bought more than US$30 million in company shares.

Tan, Grab’s CEO, bought 10.35 million Class A ordinary shares on 21 September at a weighted average price of US$2.8866 per share, according to a filing with the US Securities and Exchange Commission.

The purchase was worth about US$29.9 million. The shares were acquired through multiple transactions at prices ranging from US$2.83 to US$2.91.

Grab President and COO Alexander Hungate separately bought 299,571 shares on the same day at a weighted average price of US$2.8936 per share.

His purchase was worth about US$867,000, with the shares acquired at prices ranging from US$2.87 to US$2.91.

The purchases come after Grab agreed to acquire Atome Financial in two stages.

Grab will first acquire a 60% stake for US$1.49 billion in cash.

The company has also agreed to acquire the remaining 40% about two years after the first transaction closes, subject to regulatory approvals and other customary conditions.

The first phase is expected to close by the third quarter of 2027. The US$1.49 billion consideration includes US$260 million in growth capital.

Grab plans to fund the initial acquisition entirely from its existing cash.

Featured image: Edited by Fintech News Singapore, based on image by NovelHQ via Magnific

The post Anthony Tan and Alexander Hungate Buy Over US$30 Million in Grab Shares appeared first on Fintech Singapore.



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