*Official* OCBC (SGX: O39)

[martin]

Dropped 18 cts at start today. Other banks don't drop much leh. Any clue?

 

[Tee_bag]

i was also wondering why the sudden drop.

 

[flyrox]

Will it continue to dip further? Seems like it...

 

[simon_84]

just be glad is not 9.75, else i also would want to enter...

 

[endlssorrow]

drop for u to enter mah

 

[focus1974]

They are rumoured to be buying Wing Hang Bank for a record price

 

[DingDang51]

SGX website shows OCBC requested for a trading halt at 10.30am today, pending release of an announcement.

Wing Hang bank acquisition?

 

[Tee_bag]

wah lau.. donno will continue to drop after lifting of the trading halt.

 

[mrwonderful]

They buying that HK bank for twice its estimated value. Typical SG loves to overpay.

 

[InnovaIQ]

wow lan eh........................rike tat ocbc .............uplorry izzit????????????????????????

 

[teerance85]

wow lan eh........................rike tat ocbc .............uplorry izzit????????????????????????

OCBC wont uplorry. If OCBC uplorry, alot of pple here would uplorry with their savings in the bank.

 

[InnovaIQ]

OCBC wont uplorry. If OCBC uplorry, alot of pple here would uplorry with their savings in the bank.

bro...........halt nw leh................rater suspend..............rater uplorry...............btw........when ocbc announce................no halt har??????????????

 

[teerance85]

bro...........halt nw leh................rater suspend..............rater uplorry...............btw........when ocbc announce................no halt har??????????????

Halt due to pending announcements mah. Suspend means like the blumont, liongold saga. Think nobody knows when OCBC will un-halt.

 

[SpeedingBullet]

Cos OCBC's lowering their bid.

Wing Hang Bank Tumbles After OCBC Said to Bid: Hong Kong Mover

Wing Hang Bank Ltd. (302) shares fell the most in almost 20 months in Hong Kong after Oversea-Chinese Banking Corp. (OCBC) was said to bid less for the family-run lender than its owners are seeking.

Wing Hang dropped as much as 6.1 percent, the biggest intraday slump since May 2012, to HK$110. The stock traded 1.4 percent lower at HK$115.60 at 11:36 a.m. local time before trading in the shares was suspended. OCBC, Southeast Asia’s second-biggest lender, fell 1.5 percent to S$9.87 in Singapore, before its trading was halted pending an announcement.

OCBC conducted due diligence and bid less than the two times book value Wing Hang was seeking, two people familiar with the matter said Jan. 3. The Hong Kong lender’s HK$35.7 billion ($4.6 billion) market capitalization is about 1.7 times estimated 2013 book value, data compiled by Bloomberg show. The purchase would be OCBC’s biggest acquisition, giving it a network of 70 branches in Hong Kong, Macau and mainland China.

“It seems there are not many other bidders for Wing Hang and if the bidding price is 1.8 or 1.9 times, there’s only 10 percent potential upside for the stock,” Edmond Law, an analyst at UOB Kay Hian Holdings Ltd. in Hong Kong, said by phone. “Most investors will start to take profit given that there’s a lot of uncertainties.”

Anbang Insurance Group, a Beijing-based insurer, indicated it wouldn’t pay more than 1.7 times the book value of Wing Hang, two people with knowledge of the matter said last month. Anbang said Jan. 3 it spent 1.43 billion yuan ($236 million) to increase its stake in China Merchants Bank Co. to 7 percent from 6.36 percent.

 

[InnovaIQ]

Cos OCBC's lowering their bid.

Wing Hang Bank Tumbles After OCBC Said to Bid: Hong Kong Mover

hong gan lar!!!!!!!!!!!!!!!!!!!!OCBC bor lui.........act satki..................kum lan kia................nw own shares.........oso lao sai!!!!!!!!!!!!!!!!!

 

[avalonie]

hong gan lar!!!!!!!!!!!!!!!!!!!!OCBC bor lui.........act satki..................kum lan kia................nw own shares.........oso lao sai!!!!!!!!!!!!!!!!!

Don't worry la, OCBC is not stupid.

Just curuous why they don't trading halt the whole day instead only halt at 10:30. Maybe let those kiasi ppl sell their shares 1st so after that they can buy back cheap??? Almost 4.7k lots($46M) change hand at that 1.5hr window.

 

[InnovaIQ]

ocbc......realli.......kum lan........no monie......act wu lui..........cmi...........

 

[Boorseye]

Don't worry la, OCBC is not stupid.

Just curuous why they don't trading halt the whole day instead only halt at 10:30. Maybe let those kiasi ppl sell their shares 1st so after that they can buy back cheap??? Almost 4.7k lots($46M) change hand at that 1.5hr window.

side track a bit, i believe banks business are affected by the new PDPA policy with regards to the 'do not call' list..

 

[actman]

http://infopub.sgx.com/FileOpen/Announcement_060114.ashx?App=Announcement&FileID=269887

 

[Garlic & Butter]

OCBC's aquisition may look smoother than DBS's Danamon saga.. At least, there will be less regulatory hurdles..

now is really purely $$ issues, as what the reports says. The "low" price is signalling a very cautious move by OCBC. with mosy of the HK's family banks being squeezed by the big banks, its reasonable for OCBC to apply some discount factor