Grab Holdings Stock (GRAB): Why The Price Increased

By Pulse 2.0 Staff ● Dec 15, 2021
  • The stock price of Grab Holdings Ltd (NASDAQ: GRAB) increased by 5.15% today. This is why it happened.

The stock price of Grab Holdings Ltd (NASDAQ: GRAB) increased by 5.15% today. Investors are responding positively to Grab Holdings, a unit of Southeast Asia’s largest ride-hailing and delivery company, acquiring Malaysia’s premium grocery chain Jaya Grocer Holdings Sdn., according to a filing with the SEC.

Grab had signed a deal with the shareholders of Jaya Grocer to buy all of the grocery chain’s ordinary shares and 75% preference shares after the deal closes.

The deal is Grab’s largest acquisition since they took control of Ovo earlier this year. Grab is also known for buying Uber’s regional ride-hailing operations.

A few weeks ago, the Teng family bought back Jaya Grocer bought back their stake in the company from Southeast Asia-based private equity investment firm AIGF Advisors Pte.

Currently, Jaya Grocer runs 40 stores across Peninsular Malaysia. And the majority is located in the Klang Valley area. Grab is going to partner with a local investor – which will own 50% of the voting shares in Jaya Grocer – due to regulatory concerns.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.