Trading in Hong Kong's Wing Hang Bank shares suspended

HONG KONG Sun Jan 5, 2014 11:11pm EST

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HONG KONG Jan 6 (Reuters) - Trading in Hong Kong's Wing Hang Bank Ltd was halted on Monday, following reports that Singapore's Oversea-Chinese Banking Corp Ltd (OCBC) had started exclusive talks to buy the family-run lender in a deal that would value it at about $5.3 billion.

Reuters reported late on Friday that OCBC, Singapore's second largest bank by assets, has offered around twice Wing Hang's book value..

Wing Hang did not give any reasons for suspending the shares.

Wing Hang shares last traded down 1.4 percent at HK$115.60, while the benchmark Hong Kong benchmark share index was down 0.6 percent by 0359 GMT. OCBC shares were halted earlier on Monday. (Reporting by Denny Thomas; Editing by Miral Fahmy)

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