NASDAQ-listed Grab Holdings will be included in MSCI Singapore Index in a quarterly review, according to the equity index compiler on Feb 9.
The Singapore-headquartered ride hailer will be added to the index as at the close of Feb 28, along with 20 other securities from around the globe.
In a Jan 18 report by Citi Research, analyst Arthur Pineda wrote that Grab’s recent listing had placed the company “in good footing” to be included in key market indices such as MSCI Singapore.
He adds that Grab’s inclusion is likely to see “minimal disruption” for the existing large caps that are already on the index, unlike the inclusion of Sea Limited in September 2021.
Grab, on Dec 2, 2021, debuted on the NASDAQ, opening at US$13.06.
Shares in Grab closed 34 US cents higher or 6.53% up at US$5.55 on Feb 9 (US time).
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Photo: Grab
