OCBC

OCBC has emerged as the frontrunner in the potential takeover of Hong Kong's sixth largest bank, after newswires reported that OCBC has submitted binding bids for the Hong Kong bank. However, OCBC has offered less than the 2x P/B value that Wing Hang was seeking and the two companies are now discussing to bridge the valuation gap. Most analysts expects OCBC would need fresh capital should an acquisition be successful, which could potentially lead to another round of fund raising.