The Business Times
business-time-50

A fresh bid to privatise Great Eastern unlikely: observers

google-preferred-sourceAdd BT as a preferred source
Tan Nai Lun

Tan Nai Lun

Published Thu, Jun 22, 2023 · 04:21 PM
    • The Great Eastern logo on the facade of Great Eastern Centre located at Pickering Street on 4 December 2019.
    • The Great Eastern logo on the facade of Great Eastern Centre located at Pickering Street on 4 December 2019. PHOTO: BT FILE

    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.

    Great EasternOCBCPrivatisationM&ASpotlight

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    Some industry watchers wonder if Orchard Road can hold its own next to competing retail destinations, both global and local.

    What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The exterior (left) and interior (right) views of Waterwall House, featuring glass interfaces, open voids, split levels and raw concrete walls.

    Rare brutalist Singapore house opens to the public before changing hands

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More