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Crunch time for Great Eastern’s minorities

Given the precedent set by the Boustead Projects case, many minority investors may well be prepared to wait for a higher exit offer

Ben Paul

Ben Paul

Published Mon, Jun 17, 2024 · 05:00 AM
    • OCBC only needs to acquire slightly more than 4.7 million Great Eastern shares to push its stake in the insurer past the 90 per cent threshold.
    • OCBC only needs to acquire slightly more than 4.7 million Great Eastern shares to push its stake in the insurer past the 90 per cent threshold. PHOTO: BT FILE

    MINORITY shareholders of Great Eastern have some tough decisions to make in the days and weeks ahead.

    After the market closed on Friday (Jun 14), OCBC said its offer price of S$25.60 per share for Great Eastern is final, and that the closing date for the offer had been extended to Jul 12.

    The bank also said it had received acceptances for more than 1.74 million Great Eastern shares as at Jun 13. This raised its stake in the insurer to more than 89 per cent (including shares held by its concert parties).

    BT CorrespondentsGreat EasternOCBCM&APrivatisation

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