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OCBC Bank
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Genting SP Next Move
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infoshare
Senior |
19-Aug-2014 21:50
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SINGAPORE: Oversea-Chinese Banking Corp (OCBC), Singapore' s second-biggest lender, plans to raise S$3.3 billion via a rights issue to strengthen its capital following its recent acquisition of Hong Kong' s Wing Hang Bank in a deal worth about US$4.95 billion (S$6.16 billion). The bank said early on Monday (Aug 18) it will sell 440 million shares at S$7.65 a share, which is a 25 per cent discount to its last share price of S$10.20 on Friday. The offer will be made to shareholders on the basis of one rights share for every eight existing shares held. OCBC successfully gained control of Wing Hang last month, giving it a bigger presence in Greater China. The bank currently derives the bulk of its business in Singapore, with Malaysia and Indonesia accounting for the bulk of its international business. Merrill Lynch, HSBC and JPMorgan are joint lead managers and underwriters for the deal. OCBC' s management has set aside up to S$50 million to integrate Wing Hang' s operations. No redundancies are planned but the bank may look to sell non-core assets. |
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lingua101
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19-Aug-2014 17:29
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After XA the price will adjust to around theoritical value right? Today close 10.31 le.. so (10.31*8+7.65)/9 = 10.14-10.15
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Richly
Member |
18-Aug-2014 17:13
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Assume at 10.15 now with CA. .u get 180 per lot in dividend plus rights....if u convert your rights, each share just cost u 9.87.( base on 8 lots plus convert all the rights)....good deal right |
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kahdeve
Member |
18-Aug-2014 15:49
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after 25,no buyer. after 27, a lot of seller :) |
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kahdeve
Member |
18-Aug-2014 15:47
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my personal view, buy DBS, will rebound anytime once MACD touching 0 |
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edwinjup
Supreme |
18-Aug-2014 15:45
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Watch xd date...not record date...xall on 25 aug...those.buy on 25 august got nothings
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kahdeve
Member |
18-Aug-2014 15:27
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theoretically the price will fall due to dilution, watch the RECORD DATE instead of ex date. it is 27 aug if im not wrg :) |
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edwinjup
Supreme |
18-Aug-2014 13:50
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Very likely below 10...xr cum xd0.18c as well on 25 aug
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kc0257
Member |
18-Aug-2014 10:40
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anyway thanks for your reply.
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kahdeve
Member |
18-Aug-2014 10:37
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anyway the offer is nt attractv. for instance $10.15x8000+7650=9.87++ can get way below after XR |
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kc0257
Member |
18-Aug-2014 10:29
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Sorry Kahdeve, my broker just called back. She clarified that if I have less than 8 lots, they will give me the shares in proportion. Eg I have 2, I get to subscribe 250shares. $7650/4 = $1413 So no need to sell. |
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kc0257
Member |
18-Aug-2014 10:16
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Thanks. In the case have to sell. dont have so much money.
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kahdeve
Member |
18-Aug-2014 10:13
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yes yes |
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kc0257
Member |
18-Aug-2014 10:10
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Can anyone please tell me if I need to have 8 mother shares before I can apply for one rights? that the Company is proposing to carry out a renounceable underwritten rightsissue (the &ldquo Rights Issue&rdquo ) ofup to 440,047,710
new ordinary shares in the capital of the Company (the &ldquo Rights Shares&rdquo ) at an issue price of S$7.65 for each Rights Share (the &ldquo Issue Price&rdquo ), on the basis of one Rights Share for every eight existing ordinary shares in the capital of the Company (the &ldquo Shares&rdquo ) held byEntitled Shareholders (as defined below) as at5.00 p.m. on 27 August 2014(the&ldquo Books Closure Date&rdquo ) for the purpose of determining Shareholders&rsquo (as defined below) entitlements under the Rights Issue, fractionalentitlements to bedisregarded and
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WanSiTong
Supreme |
18-Aug-2014 09:20
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Published August 18, 2014
OCBC proposes S$3.37b rights issue to fund Wing Hang acquisition
 OCBC on Monday announced a S$3.37 billion rights issue, which will go towards funding its acquisition of Hong Kong' s Wing Hang Bank. It has proposed to sell 440 million new shares at S$7.65 on the basis of one rights share for every eight existing shares. The issue price represents a 25 discount to the closing price of S$10.20 per share on August 15, 2014. OCBC had earlier guided that the S$6.2 billion offer for the Hong Kong bank - which will be fully taken over by the Singapore lender - will be funded through a mix of existing cash, new debt, and equity |
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stevenk
Senior |
17-Aug-2014 14:44
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oceanblue
Veteran |
11-Aug-2014 11:48
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Cleared 10.20 again. |
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stevenk
Senior |
10-Aug-2014 22:03
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Will test resistance at 10.60 and 10.85..
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oceanblue
Veteran |
07-Aug-2014 09:12
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Up again! Cleared $10.20. Will test new high? |
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Kyoto2008
Elite |
06-Aug-2014 21:53
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nim= net interest margins. US is raising interest rates next year, there is now a debate on how much, a lot depends on employment and inflation. How much is OCBC committed in terms of fixed rates for loans? When cost of funds increases, NIM gets hit badly which would affect profitability. Remember OCBC grew this round on loans mostly and whilst it is a strength in low interest rate environment, it becomes an albatross when rates rise. A bank that is focused on cash management and fee income wouild do a lot better in a higher interest rate environment. There could be a scramble for deposits next year if interest rates rises and loan driven banks need the deposit base to fund their assets. Interbank funding is too fluid and risky, the Koreans know this very well.
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