Grab Plans $1.25 Billion Fund Raise; To Spend on Buybacks, M&As
Grab plans to raise $1.25 billion via convertible bonds to fund buybacks and acquisitions, it said after issuing a fresh denial about a potential merger with Indonesian rival GoTo Gojek Tokopedia.
The Southeast Asian ride-hailing and delivery company said it will use proceeds from the offering of convertible notes, due in 2030, to boost the 'strategic flexibility' of it business, which may include potential acquisitions. It emphasized that it will continue to maintain a high bar for any deals.
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