OCBC offers $900m to delist Great Eastern Holdings

The exit offer price is final.

OCBC is offering to acquire the remaining 6.28% of shares it does not own in Great Eastern Holdings for $900m or $30.15 each.

Great Eastern Holdings has been on a trading halt since 15 July 2024 after its free float fell below 10%.

In a bourse filing, the company said that if the delisting cannot be achieved, it will seek shareholders’ approval on a second proposal to restore the free float.

OCBC’s exit offer is subject to the approval of at least 75% of the total number of issued shares held by shareholders at an upcoming extraordinary general meeting (EGM).

OCBC said its exit offer price is final, and it has no intention of launching another offer in the future.