August 2, 2018 / 4:48 AM / a year ago

Grab sees strong demand from investors to buy into business - president

SINGAPORE, Aug 2 (Reuters) - Southeast-Asian ride-hailing firm Grab is seeing strong demand from investors keen to buy into it, a top executive said on Thursday, after the company announced new investment of $1 billion from a clutch of financial firms.

“We continue to see significant demand from investors, both financial investors and strategic investors on a global basis,” Grab President Ming Maa told Reuters.

“We will continue opening the financing for certain investors that we think will add value,” he said, but declined to say how much the company aims to raise.

The latest funding came from global asset manager OppenheimerFunds, China’s Ping An Capital, Microsoft Corp co-founder Paul Allen’s Vulcan Capital, Macquarie Capital and Lightspeed Venture Partners, among others.

Reporting by Aradhana Aravindan and Anshuman Daga; Editing by Subhranshu Sahu

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