22 February 2019

OCBC offers US$5 bln for Wing Hang Bank, WSJ says

Singapore’s Oversea-Chinese Banking Corp. has agreed to pay close to US$5 billion to acquire Wing Hang Bank Ltd. (00302.HK), the Wall Street Journal reported Tuesday. The second-biggest bank in the city state by assets will buy all of the Hong Kong family-owned lender’s shares for HK$125 (US$16.12) each, which is a 1.6 percent premium to its last closing price on Friday, according to an OCBC statement. Trade in shares of OCBC and Wing Hang have been halted since Friday, the report said.

– Contatc HKEJ at [email protected]



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