Finally at the finish line: OCBC launches compulsory acquisition of Wing Hang Bank

It now owns 97.52% of Wing Hang.

OCBC has finally won the long battle for Wing Hang Bank. After a standoff which involved one of America’s largest hedge funds, OCBC today revealed that it now owns 97.52% of Wing Hang Bank.

In a statement, OCBC stated that it will now be exercising our right under the Hong Kong Companies Ordinance to compulsorily acquire all those Wing Hang Bank shares not acquired under the voluntary general offer (VGO), which has already closed.

On completion of the compulsory acquisition process, WHB will become a wholly owned subsidiary of OCBC and an application will be made for the delisting of WHB shares from the Hong Kong Stock Exchange.

According to Samuel Tsien, Group CEO of OCBC, “We are very pleased with the outcome. We will now work through the required process to take full ownership of Wing Hang Bank. Integrating the operations and businesses of Wing Hang Bank with OCBC will now pick up speed. Wing Hang Bank gives OCBC more access in the Greater China region; we can offer a wider selection of services to Wing Hang Bank’s customers as well as to Chinese companies expanding into Singapore and Southeast Asia, where we have a dominant presence. Including Wing Hang Bank’s network of 70 branches spanning Hong Kong, Macau and mainland China, OCBC has a total of 88 branches in the Greater China region, particularly across southern China’s Pearl River Delta.”

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia