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OCBC to raise S$3.3b from rights issue

Up to 440m new shares will be offered at S$7.65 a piece

[SINGAPORE] OCBC Bank yesterday announced an expected S$3.3 billion rights issue on the basis of 1-for-8 shares to pay for Hong Kong's Wing Hang Bank.

Founding family shareholder, the Lee group, will take up their full entitlement of about 26.7 per cent of the rights issue; the remaining...

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