wing hang

SMFG’s greater presence in the Hong Kong bank makes M&A less likely and dilutes other shareholders.

Singapore’s OCBC made a HK$125 cash offer per share for Wing Hang Bank, one of the few family-run holdouts in Hong Kong, where most of its peers have already been gobbled up by mainland Chinese and foreign lenders.

Yue Xiu Group’s potential purchase price for Chong Hing Bank reflects the economic slowdown in mainland China and competition in Hong Kong.

Wing Hang Bank is the second of four family controlled lenders to attract a takeover approach. M&A bankers and analysts calculate the likelihood of talk turning into deals.