Grab’s Chief Financial Officer Peter Oey has sold his stake in the Southeast Asian superapp worth US$1.1 million according to a report by Bloomberg.

Peter Oey

Peter Oey

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

The ride-hailing and delivery company said in a message to Bloomberg that the sale was “done strictly to cover tax obligations”.

Grab elaborated that this was a common practice by executives of listed companies. and that Oey remains committed to the firm despite the stake sale.

Having previously served at previously served as CFO of Inc. and in the US, Oey was appointed as Grab’s CFO in April 2020.

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