Grab Finance Chief Reduces Stake Through $1.1 Million Share Sale

Grab Holdings Ltd. Chief Financial Officer Peter Oey sold $1.1 million in shares of the Southeast Asian ride-hailing and delivery company, according to a regulatory filing.

Oey and affiliated person Eve Oey sold 341,202 shares at an average price of $3.17 on Feb. 28 through JP Morgan Securities LLC, according to a filing with the US Securities and Exchange Commission.

“The sale was done strictly to cover tax obligations,” Grab said in a message in response to Bloomberg inquiries. “This is a common practice by executives of listed companies. Peter remains committed to the business.”

Oey joined Singapore-based Grab as ...