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Focus now on fund-raising options for Wing Hang deal

Funding for OCBC's S$6.2b offer involves equity raising

Published Wed, Jul 30, 2014 · 10:00 PM
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[SINGAPORE] All eyes are now on fund-raising options for OCBC, which is set to fully take over Wing Hang Bank.

The attention comes as OCBC secured 97.5 per cent of Wing Hang at the close of its offer on Tuesday.

Because the percentage of acceptances of its offer crossed the 90 per cent mark, OCBC has the right to acquire all other shares that it does not control. It will do so, and then delist Wing Hang.

OCBC had earlier guided that the S$6.2 billion offe…

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