SINGAPORE Aug 18 Oversea-Chinese Banking Corp
, Singapore's second-biggest lender, said it plans to
raise S$3.37 billion($2.7 billion) in a rights issue to
strengthen its capital after the recent acquisition of Hong
Kong's Wing Hang Bank Ltd.
The bank will sell 440 million shares at S$7.65 a share, a
25 percent discount to its last share price of S$10.20 on
Friday, it said in a statement.
OCBC took over Wing Hang Bank Ltd in a $4.95 billion deal
last month a deal intended to give the Singapore lender a much
sought-after gateway to the Greater China region..
Bank of America Merrill Lynch and JPMorgan are handling the
(1 US dollar = 1.2448 Singapore dollar)
(Reporting by Saeed Azhar; Editing by Michael Perry)