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OCBC bags over 90% of Great Eastern’s shares, trade suspension to take effect
Trade suspension will be lifted if Great Eastern's public float rebounds to at least 10%.
OCBC along with concert parties has gathered 90.16% of Great Eastern’s shares amounting to 426,749,174 shares.
Shares solely owned, controlled, acquired or agreed to be acquired by OCBC amount to a total of 425,794,583 shares or 89.96% of Great Eastern’s shares.
After OCBC closes its offer on 12 July, Great Eastern's public float will drop below 10%, suspending the company from trading pursuant to Rule 1303(1) of the Listing Manual.
SGX-ST will lift the suspension if Great Eastern's public shareholding rebounds to at least 10%.
The announcement was made by J.P. Morgan on 24 June, 6 pm.
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