Summary by Moomoo AI
Uber Technologies, Inc., a Delaware-based corporation, has filed a Schedule 13D with the Securities and Exchange Commission on May 8, 2024, indicating a significant investment in Grab Holdings Limited. Uber disclosed ownership of approximately 14.1% of Grab's Class A ordinary shares, amounting to 535,902,982 shares. This stake represents about 5.8% of the voting power of Grab's outstanding capital stock as of December 31, 2023. The filing was necessitated by Uber's substantial shareholding following a series of transactions, including a Purchase Agreement in March 2018 and a Business Combination Agreement that led to Grab becoming a publicly traded company on December 1, 2021. Uber's CEO, Dara Khosrowshahi, also serves on Grab's board of directors. The filing indicates that Uber may consider various strategic options regarding its investment, including acquiring additional shares, proposing extraordinary transactions such as a merger, or disposing of its shares in Grab. The Schedule 13D filing provides transparency into Uber's investment and potential influence over Grab's business operations and strategic direction.