Previous close | 25.80 |
Open | 25.63 |
Bid | 25.80 x 0 |
Ask | 25.81 x 0 |
Day's range | 25.63 - 25.81 |
52-week range | 17.08 - 26.50 |
Volume | |
Avg. volume | 224,195 |
Market cap | 12.212B |
Beta (5Y monthly) | 0.53 |
PE ratio (TTM) | 15.73 |
EPS (TTM) | 1.64 |
Earnings date | 31 Jul 2024 |
Forward dividend & yield | 0.80 (3.10%) |
Ex-dividend date | 30 Apr 2024 |
1y target est | N/A |
Oversea-Chinese Banking Corp now owns more than 90% of Singaporean insurer Great Eastern, an exchange filing by the city-state's second-largest lender showed on Tuesday. OCBC made an offer in May to buy an 11.56% stake in Great Eastern it did not already own for S$1.4 billion ($1.03 billion). Great Eastern will now be forced to suspend trading in its shares after the offer closes on July 12 as the insurer's public float has now dropped below 10%.
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The independent directors of Singapore's Great Eastern have been advised to recommended that minority shareholders accept a S$1.4 billion ($1.03 billion) offer from the insurer's top investor Oversea-Chinese Banking Corp (OCBC). Ernst & Young, the financial adviser to the independent directors, said the terms of the offer were "reasonable" and advised them to recommend the deal, Great Eastern said in a statement.