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New Ningbo stake to cost OCBC 1.8b yuan

Private placement will raise its holding in China bank to maximum of 20%

Angela Tan

Published Tue, Jan 14, 2014 · 10:00 PM

EVEN before its acquisition of Hong Kong's Wing Hang Bank is sealed, OCBC Bank said yesterday that it would invest 1.8 billion yuan (S$378 million) to boost its stake in China's Bank of Ningbo.

OCBC has agreed to subscribe for up to 207.55 million new shares in Bank of Ningbo at 8.85 yuan each in a planned private placement.

The share subscription, which will b…

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Companies & Markets

Companies & Markets

New Ningbo stake to cost OCBC 1.8b yuan

Angela Tan

Companies & Markets

Netflix handily beats subscriber targets, misses on revenue forecast

Meta releases early versions of its Llama 3 AI model

Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts

TSMC estimates losses of US$92.4 million due to Taiwan earthquake

Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom

US: Wall St opens higher as some chip stocks bounce back after selloff

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