Grab Holdings announces $500M share repurchase program

Grab Holdings (GRAB) in its earnings release said its board authorized a share repurchase program, under which the company may repurchase up to $500M worth of its shares. Peter Oey, CFO of Grab, added, “We delivered another record full year Adjusted Free Cash Flow through disciplined cost management and strengthened unit economics, solidifying our liquidity position and validating our long-term strategy. This strong foundation underpins our confidence in our long-term financial outlook, where we expect to generate $1.5 billion in Adjusted EBITDA with an Adjusted Free Cash Flow conversion of 80% by 2028. This provides us with greater flexibility to accelerate our platform ambitions while delivering shareholder value. To that end, we are announcing a newly authorized $500 million Share Repurchase Program.”