Great Eastern Proposes Delisting with OCBC's S$700 Million Offer

Great Eastern proposes delisting with OCBC's S$700 million offer

Great Eastern is proposing to delist from the Singapore bourse by way of its largest shareholder Oversea-Chinese Banking Corp offering S$900 million (US$699.9 million) to buy the rest of the insurer it does not already own, according to joint statement and filings on Friday (Jun 6). Trading in Singapore-ba

Great Eastern plans delisting with US$700mil OCBC-backed bid

Singapore’s second-largest lender has made three bids since 2004 to fully take over the insurer.

Great Eastern Aims to Delist Via OCBC’s Exit Offer

Singapore insurer Great Eastern is seeking to delist from the local exchange through an exit offer by parent group OCBC. OCBC is backing a proposal by Greater Eastern to pay S$900 million ($700 million) for the 6.28 percent of shares in the insurer it does not own to delist, according to a statement. The offer values the remaining stake at S$30.15 per share. Under the listing rules of the Singapore Exchange, issuers must ensure a free float of a…

Great Eastern plans to delist through higher OCBC-backed bid: Bloomberg

Great Eastern is considering options that include a plan to delist via an offer by OCBC, which will be higher than its original offer in May last year, Bloomberg reported on Thursday (Jun 5).