Oversea-Chinese Banking Corp. or OCBC (SGX:O39) has clarified its stance on the future of Great Eastern (SGX:G07), saying its current exit offer for the remaining shares is final and it has no intention to launch another offer in the foreseeable future, regardless of the outcome of the upcoming delisting vote.
The statement comes in response to recent media speculation suggesting that OCBC could propose further privatization and delisting of Great Eastern should the current delisting resolution fail.
The company was referring to an article published by The Edge on June 12, which raised questions about the conversion of Class C Non-Voting GEH shares in five years, according to a Singapore bourse filing on Monday.
Shares of the bank were up over 1% early afternoon on Tuesday in Singapore.
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