On February 09, Grab Holdings Ltd. (GRAB) announced the date for its Q4 and fiscal 2021 financial results. The company will declare the earnings release on March 3, 2022, before the opening of the market. GRAB stock has been bullish since the company announced the date. It seems investors are excited about the earnings.
In the previous trading session, the stock added 6.53% at its closing price of $5.55 at 8.46 million shares. At the time of writing, GRAB had added a further 8.83% in the premarket on Thursday. Hence, the stock was trading at a price of $6.04 per share in the premarket, at the last check.
More About GRAB
Southeast Asia’s leading super-app, Grab Holdings Ltd. recently completed its business combination with Altimeter Growth Corp. (AGC). Following its combination with the SPAC, the company’s common stock commenced trading on the Nasdaq on December 02, 2021, under “GRAB”. Raising gross proceeds of US$4.5 billion from the transaction, GRAB made the largest-ever U.S. public market debut by a Southeast Asian company. Moreover, the proceeds include a fully committed PIPE of $4.0 billion.
Currently, the company has a market capitalization of $18.49 billion with 3.62 billion shares outstanding. In the past five days, the stock has increased by 11.45% while it lost 22.16% year to date. Furthermore, GRAB declined by a huge 60.33% last year.
Company News
On January 24, the company announced a fireside chat hosted by Mark Mahaney from Evercore ISI. The fireside chat was held on January 26, 2022, where Mr. Mahaney and Ming Maa (President GRAB) discussed the company’s business. They also discussed the unique super app strategy of the company and the market opportunities in Southeast Asia regarding the super app.
On December 13, the company registered a filing with the Securities Exchange Commission. According to the filing, the company would acquire Malaysia’s top premium grocery chain Jaya Grocer Holdings Sdn. GRAB has signed an agreement with Jaya Grocer for the purchase of all of JAYA’s ordinary shares and 75% preference shares for an undisclosed amount. Further, the company also has an option for the purchase of the remaining preference shares of the grocery chain after the close of the deal. The company announced the completion of the acquisition on January 31, 2022.
Additionally, earlier in 2021, the company also took control of Indonesian wallet provider Ovo.
