Singapore's OCBC to not make further offers to delist insurance arm

Great Eastern Holdings

23/06/2025 10:26

June 23 (Reuters) - Singapore's Oversea-Chinese Banking Corp OCBC.SI said on Monday it will not make any further offers to buy the rest of its insurance arm, Great Eastern GELA.SI, after its latest S$900 million ($697.7 million) offering.

The lender is offering S$30.15 apiece for the 6.28% of the insurer's stock that is does not already own. The latest offer is 17.8% higher than last year's offer and values Great Eastern at S$14.27 billion.

($1 = 1.2900 Singapore dollars)

 (Reporting by Rishav Chatterjee and Sneha Kumar in Bengaluru)

 ((Sneha.Kumar@thomsonreuters.com;))