Singapore's Grab ticks down after announcing $1.25 bln convertible notes offering
Shares of Singapore-based ride-hailing and delivery firm Grab Holding GRAB.O down 2 cents at $4.96 after hours as it seeks capital raise
Co announces $1.25 bln 5-yr convertible notes offering
It says plans to use net proceeds for general purposes, and for strategic flexibility, which may include potential acquisitions
Concurrently with offering, it plans to repurchase shares from certain purchasers of the notes in privately negotiated transactions
Earlier on Mon, GRAB denied reports of talks for a potential deal with smaller Indonesian rival GoTo GOTO.JK
GRAB shares on Mon ended down 3.7% at $4.98, trimming YTD gain to ~5.5%
Co has roughly $20.4 bln market cap, per LSEG data
23 of 25 analysts rate GRAB "strong buy" or "buy", 2 rate "hold" and median PT is $5.67- LSEG
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