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Future offer for Great Eastern, if any, will be made in interest of OCBC: CEO Helen Wong

She notes that the lender’s offer price of S$25.60 is ‘meaningful’, in that it represents a premium to most of the traded metrics of listed life insurance peers

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Tan Nai Lun

Tan Nai Lun

Published Fri, Aug 2, 2024 · 04:33 PM
    • Helen Wong, group chief executive of OCBC, says that the lender continues to work on its "One Group" strategy to achieve greater synergies with GEH and minimise leakage of the economic value generated.
    • Helen Wong, group chief executive of OCBC, says that the lender continues to work on its "One Group" strategy to achieve greater synergies with GEH and minimise leakage of the economic value generated. PHOTO: OCBC

    IF OCBC were to make any future offers for the shares in Great Eastern Holdings (GEH) it does not own, it will be in the interest of OCBC and its shareholders, and not GEH’s minority shareholders, said the lender’s group chief executive Helen Wong.

    Meanwhile, these minority shareholders have until Oct 23, 2024, to accept OCBC’s offer on the same terms as its May 2024 bid for the insurer.

    “We continue to work on our ‘One Group’ strategy to achieve greater synergies with GEH and minimise leakage of the economic value generated,” Wong said at a briefing for the lender’s second-quarter results on Friday (Aug 2).

    Great EasternOCBCM&AInsuranceSingapore banks

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