Wing Hang may dive if bid is hindered

SHARES of Wing Hang Bank Ltd, a Hong Kong lender being taken over by Oversea-Chinese Banking Corp, could fall as much as 40 per cent if OCBC doesn't garner enough stock to delist the company, Credit Suisse Group AG said.

Under Hong Kong rules, Singapore-based OCBC needs to own at least 90 per cent of Wing Hang's shares to delist the bank, analysts Sanjay Jain and Vineet Thogde wrote in a report yesterday. Failing to win acceptances to take it over that threshold before its offer expires on July 2…