GEH is proposing a delisting after evaluating the options available and taking into account the practicalities and feasibility of each option. If delisting cannot be achieved, GEH will proceed to seek shareholders’ approval on a second proposal to restore the free float.
Oversea-Chinese Banking Corporation Limited has announced, at the request of Great Eastern Holdings (SGX:G07
) (GEH), it will support the latter's proposal to seek a delisting of GEH shares with a $0.9 billion conditional exit offer at $30.15 per share for the 6.28% GEH shares it does not own.
Trading in GEH shares was suspended on July 15 2024 after the insurer’s free float fell below 10%. GEH shareholders who have not been able to sell their shares for the past 11 months will now have an opportunity to do so via the exit offer. The independent financial adviser, Ernst and Young, has opined that the exit offer is fair and reasonable.
