- The deal could be worth as much as S$6.7 billion.
- Bloomberg News reported that OCBC had obtained preliminary approval from the Hong Kong Monetary Authority to buy Wing Hang
- If an agreement is reached, OCBC will have to make a takeover offer for the remaining shares in Wing Hang.
- OCBC shares had fallen around 1.1 per cent on Friday afternoon before trading was halted.
- Wing Hang would give OCBC a network of about 70 branches spanning Hong Kong, Macau and mainland China.
Oversea-Chinese Banking Corp (OCBC) halted trading of its shares on Friday afternoon, ahead of an expected agreement to buy Hong Kong’s Wing Hang Bank: