OCBC rules out future Great Eastern bids after delisting fails

OCBC holds a 93.72% stake in the insurer.

Oversea-Chinese Banking Corporation (OCBC) said that it would not make any further offers for Great Eastern Holdings’ (GEH) in the foreseeable future following the lapsing of its exit offer.

GEH’s delisting was not approved at its extraordinary general meeting held on 8 July 2025.

OCBC has also elected to receive Class C non-voting shares under Great Eastern Holdings’ (GEH) bonus issue, it said in a statement.

The Singaporean bank and GEH’s parent company said that it will not convert the newly created Class C non-voting shares on and after the fifth anniversary of the issuance; and would not make further offers for GEH in the foreseeable future.

It added that the 10% free float requirement will be restored assuming all GEH minority shareholders receive the bonus ordinary shares.

OCBC previously made an offer to acquire the remaining shares of GEH and delist it from the Singapore Exchange.

OCBC first announced its voluntary general offer on 10 May 2024, intending to increase shareholding in GEH beyond 88.44%. OCBC has since grown its shareholding in GEH to 93.72% in October 2024.