In May last year, OCBC Bank proposed a voluntary and unconditional comprehensive acquisition offer to Dadong Holdings for 1.4 billion yuan, and acquired the remaining 11.56% of the shares that Dadong Holdings did not hold at a price of 25.60 yuan per share, with the goal of delisting the latter.

OCBC closed at 16.23 yuan on Thursday, with no change.

As of the end of the offer in July last year, OCBC held 93.52% of the shares of Big Oriental, which did not meet the shareholding ratio required for delisting and could not force the acquisition of the remaining shares.

Bloomberg quoted people familiar with the matter on Thursday (June 5) saying that OCBC Bank's latest offer to Big Oriental is expected to meet the "fair and reasonable" standards in Singapore's listing rules, and this offer is subject to approval for delisting.

Since the major shareholder OCBC Bank initiated the acquisition offer, its shareholding ratio was greater than 90%, while the public shareholding ratio was less than 10%, falling below the minimum requirement, Dadongfang stock has been suspended since July 12 last year and has not resumed trading so far.

OCBC is considering several options, including privatizing and delisting Great Eastern by raising the offer price proposed in May last year. The delisting offer price will be higher than the previous proposed 1.4 billion yuan.

Another alternative is that Big East continues to maintain its listing status by issuing new shares with conditions to all shareholders.

Dadongfang must announce the final plan before Sunday (8th) to comply with the listing rules.