Friday, February 7th, 2025

Major Bank’s Subsidiary Enters Complex Derivatives Deal Amid Suntec REIT Takeover Bid








Suntec REIT: OCBC’s Strategic Move Could Influence Share Prices

Suntec REIT: OCBC’s Strategic Move Could Influence Share Prices

OCBC Bank has made a significant disclosure regarding its dealings in Suntec Real Estate Investment Trust (REIT), which could potentially influence share prices. Acting as a financial adviser to the Offeror Shareholders, OCBC is involved in a mandatory conditional cash offer (MGO) by Aelios Pte. Ltd. for Suntec REIT units.

Key points from the report include:

  • OCBC disclosed dealings under Rule 12 of the Singapore Code on Takeovers and Mergers on 20 December 2024, with the dealings dated 19 December 2024.
  • The Bank of Singapore Limited, a subsidiary of OCBC, engaged in a derivative contract, specifically a de(accumulator), with a nominal amount of S\$370,817.36. This contract is linked to a non-discretionary investment client who holds existing units and an accumulator position, but is not connected with the offeror or offeree company.
  • The derivative contract has a 12-month tenor expiring on 18 December 2025, with fixing dates every two weeks. It has a spot price of S\$1.18 per Unit, a strike price of S\$1.2409 per Unit, and a knockout price of S\$1.121 per Unit.
  • Post-deal, the OCBC group holds 22,516,221 units, which translates to approximately 0.77% of the total units in issue, based on a total of 2,921,418,466 units.

Shareholders should note the potential sensitivity of these dealings. Given the nature of the transaction and the involvement of OCBC as a financial adviser, these dealings could influence market perceptions and potentially affect Suntec REIT’s share valuation.

This disclosure is issued by Oversea-Chinese Banking Corporation Limited.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Market participants should conduct their own due diligence before making investment decisions.




View Suntec Reit Historical chart here



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