** Shares of Singapore-based ride-hailing and delivery firm Grab Holdings GRAB.O up 1.9% premarket to $4.77 after raising more capital than targeted

** Co announced pricing $1.5 bln 0% 5-yr convertible notes offering

** Initial conversion price set at $6.55, 40% above stock's last close

** GRAB shares on Tues fell 6% to close at $4.68 after co launched $1.25 bln notes deal late Mon

** Co says plans to use net proceeds for general purposes, and for strategic flexibility, which may include potential acquisitions

** Concurrently with offering, it plans to repurchase approx $273.5 mln worth of its shares from certain purchasers of the notes in privately negotiated transactions to facilitate initial hedging

** Early Mon, GRAB denied reports of talks for a potential deal with smaller Indonesian rival GoTo GOTO.JK

** GRAB has about $19 bln market cap, per LSEG data

** Through Tues close, stock down nearly 1% YTD

** 22 of 24 analysts rate stock "strong buy" or "buy", 2 rate "hold" and median PT is $5.68, latest LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))