OCBC has addressed a recent media report regarding its potential future offer for Great Eastern Holdings (GEH) shares. The report, published by The Edge on June 12, 2025, suggested that OCBC could propose the privatization and delisting of GEH when the Class C Non-Voting shares are due for conversion in five years.
OCBC clarified that it is electing for the Class C Non-Voting shares at GEH's request to assist in meeting the Free Float requirement and facilitate the Resumption of Trading. OCBC emphasized that it does not intend to convert these shares into ordinary shares after their fifth anniversary, as this would lead to GEH losing its free float status again.
The statement from The Edge may have caused confusion about whether OCBC plans to make another offer for GEH shares if the delisting resolution fails on July 8, 2025. This uncertainty could affect shareholder decisions on that date. OCBC highlighted that GEH has advised shareholders to seek independent advice before making any decisions.
Delisting GEH remains a long-term strategic goal for OCBC. Before launching a Voluntary General Offer (VGO) in 2024, OCBC last made an offer for GEH in 2006. Regardless of the outcome on July 8, 2025, OCBC expressed satisfaction with its current economic interest of 93.72% in GEH since October 2024, an increase from 88.44% prior to the VGO in May 2024.
OCBC reiterated its position from a June 6, 2025 announcement stating that its exit offer is final and there are no plans to initiate another offer in the foreseeable future.