A fresh bid to privatise Great Eastern unlikely: observers
OCBC is unlikely to take its listed insurance arm Great Eastern private, although the bank might have bigger plans for the insurer, noted analysts.
On Monday (Jun 19), the lender said that it bought 2.3 million Great Eastern shares at S$16.99 each in cash or S$39.9 million in total, bringing its stake in the insurer to 88.4 per cent from 87.9 per cent.
The purchase was on “a willing buyer willing seller basis”, OCBC said in a bourse filing.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Blackstone to buy Priority Software stake in biggest Israel deal
Hugo Boss and David Beckham partner up for design collection
Under Armour forecasts downbeat annual sales and profit, shares slump
J&J to acquire Proteologix for US$850 million
Walmart sales surge as higher-income shoppers flock to retailer
NetLink NBN Trust posts 1.1% increase in H2 DPU to S$0.0265