Top Grab executives have bought more than US$30 million worth of the company’s shares after the Singapore-based ride-hailing and financial services group saw its stock fall to its lowest level in more than three years following the announcement of its acquisition of Atome Financial. 18, their lowest level since May 2023, after declining about 50 per cent over the previous year. The sell-off came shortly after Grab announced plans to acquire a controlling stake in buy-now-pay-later provider Atome Financial.
On Sept. 21, Grab chief executive Anthony Tan purchased about US$30 million worth of shares, while company president Alex Hungate bought approximately US$867,000, according to filings with the US Securities and Exchange Commission. Grab shares subsequently closed 8.9 per cent higher on Sept. 22.
Tan later addressed the purchases at a company town hall, saying he had “put my money where my mouth is” and that he believed in Grab’s strategy and direction.
The executive purchases came after Grab announced on Sept. 15 that it would acquire a 60 per cent stake in Atome Financial for US$1.49 billion in cash. The transaction is expected to close by the third quarter of 2027, subject to regulatory approvals and other conditions. Grab has also agreed to acquire the remaining 40 per cent at a later stage under a valuation framework tied to Atome’s future performance, with the valuation capped at US$4.5 billion.
Atome’s acquisition is part of Grab’s broader push to expand its financial services business. The company expects its financial services segment, including Atome, to generate US$500 million in adjusted EBITDA and have a gross loan portfolio exceeding US$6 billion by 2028.
Grab also announced that it intends to complete approximately US$900 million of previously authorised share repurchases over the next 12 months. If fully carried out, its cumulative share repurchases since 2024 would reach about US$1.75 billion.
The Atome transaction has nevertheless drawn scrutiny from some market analysts over its valuation and the challenges of integrating the business. A Straits Times analysis cited concerns about the premium paid and whether the expected growth and synergies will materialise, while noting that the deal is intended to strengthen Grab’s financial-services ecosystem across Southeast Asia.
The latest insider purchases therefore come as Grab works to reassure investors while pursuing a larger role in consumer lending and financial services. The company’s future share performance will depend on factors including the execution of the Atome acquisition, financial-services growth and the broader performance of its core businesses.
