Could Grab CEO Anthony Tan’s US$30 million share purchase be aimed at reassuring investors?

[SINGAPORE] Grab CEO Anthony Tan’s purchase of shares of his company on Monday (Sep 21) comes in the face of a more than 50 per cent slide in the value of the counter this past year, hitting a three-year low of US$2.74.

According to filings released on Sep 21, Tan purchased 10.4 million shares at US$2.8866 for about US$29.9 million. This is his first purchase since the company went public and a contrast to his usual practice of selling down his stake.

For example, his last transaction related to Grab was in August, when he sold 400,000 shares for US$1.5 million.