Grab Stock Climbs 4% After $400 Million Buyback, Foodpanda Taiwan Deal Draws Analyst Support
Shares of Grab Holdings jumped 4.1% to finish at $3.79 on Tuesday, after the Singapore-based ride-hailing and delivery firm announced plans to repurchase up to $400 million of its stock over the next four months. The buyback includes a $250 million accelerated share repurchase — a method that quickly reduces the outstanding float — and a separate agreement with Morgan Stanley to buy back up to another $150 million.
