OCBC rumoured to be considering bid for Wing Hang Bank

Offer has been under study for 2 weeks, says Bloomberg.

According to a report by Bloomberg, Oversea-Chinese Banking Corp. (OCBC), Southeast Asia’s second-largest lender, is considering a bid for Wing Hang (302) Bank Ltd.. OCBC cited this information from people familiar with the matter.

OCBC has been studying an offer for the Hong Kong-based bank for more than two weeks, one of the people said, asking not to be named as the information is private. Wing Hang rose 3.2 percent at 1:25 p.m. in Hong Kong today, giving it a market value of HK$36.3 billion ($4.7 billion).

Read full report here.

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