OCBC says no intention to launch future offer for Great Eastern

The bank’s 6 June exit offer is final.

OCBC has clarified it has no intention to make another offer for Great Eastern Holdings (GEH) shares if the delisting vote on 8 July fails.

The bank was responding to a media report published on 12 June, which suggested OCBC could pursue a privatisation again in five years when Class C non-voting GEH shares become convertible.

OCBC said it only subscribed to the Class C shares at GEH’s request to meet free float requirements and resume trading. It has no plans to convert those shares to ordinary shares, as doing so would again breach free float rules.

“The statement may cause confusion as to whether OCBC will make another offer for GEH shares if the delisting resolution fails on 8 July 2025,” the bank stated. “This confusion may impact the decisions to be made by GEH shareholders on that day.”

The bank said its delisting offer is final, as stated in its 6 June announcement, and it does not plan to launch another offer in the foreseeable future. OCBC holds a 93.72% stake in GEH, up from 88.44% before its 2024 voluntary general offer.

The bank reiterated that delisting GEH remains a long-term strategic goal.

OCBC last attempted a privatisation in 2006, and most recently raised its economic interest in GEH to 93.72% in October 2024, following a Voluntary General Offer (VGO) in May 2024. This was up from 88.44% before the VGO.

The bank reaffirmed that the exit offer announced on 6 June 2025 is final, and that it has no intention of launching another offer “in the foreseeable future.”