Grab will buy back up to US$400 million of its shares over the next four months under its existing repurchase plan.

The repurchases will be carried out through two agreements.

They include a US$250 million accelerated share repurchase deal with JPMorgan Chase Bank and a contingent forward purchase agreement with Morgan Stanley worth up to US$150 million.

Both transactions fall under the US$500 million share repurchase programme approved by Grab’s board in February 2026.

Once completed, Grab will have used US$400 million of that amount, leaving US$100 million for further buybacks.

“We view the current share price dislocation as a clear opportunity to enhance shareholder value. Our trajectory toward our 2028 $1.5 billion Adjusted EBITDA and 80% Adjusted Free Cash Flow conversion targets also underscores the operational leverage we are now realizing.

By leveraging our robust balance sheet and net cash liquidity position, we continue to maintain a disciplined approach to capital allocation by investing in our rapidly scaling ecosystem while being committed to returning excess cash to investors.”

said Peter Oey, Chief Financial Officer of Grab.

Under the accelerated share repurchase agreement, Grab will pay US$250 million to JPMorgan for an initial delivery of about 54.9 million Class A ordinary shares.

This represents around 80 percent of the total shares that may be repurchased based on the last closing price of the shares.

The final number of shares repurchased under the agreement will be based on the average volume-weighted average price of Grab’s Class A ordinary shares on specified dates during the term of the transaction.

That figure will be subject to a customary discount and other adjustments under the agreement.

Grab expects the transaction to be completed by the second quarter of 2026.

Under the contingent forward purchase agreement, the number of shares Grab may acquire will depend on the company’s share price performance over the term of the deal, subject to the agreement’s pricing terms and thresholds.

The total amount payable under the agreement will not exceed US$150 million, with settlement scheduled for July 2026.

Grab said both transactions will be funded from existing cash reserves.

As of 31 December 2025, the company had gross cash liquidity of US$7.4 billion and net cash liquidity of US$5.4 billion.

The remaining US$100 million under the repurchase authorisation gives it flexibility for further buybacks.

Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik