Great Eastern Holdings (GEH) will resume trading following a shareholder vote against a delisting proposal, which required 75% approval but only garnered 63.49%. OCBC, GEH’s majority shareholder, stated it would not make further offers for the insurer and plans to support a one-for-one bonus share issue to maintain a minimum free float for trading resumption on the Singapore Exchange.
Explain It To Me Like I’m 5: Great Eastern Holdings will keep its stock trading after shareholders decided not to remove it from the stock market, even though a big bank, OCBC, had made an offer to buy more of the company.
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