April 1, 2014 / 1:11 AM / 3 years ago

Shares of Singapore's OCBC rise slightly after offer to buy Wing Hang

People walk under OCBC Bank signage at the bank headquarters in Singapore July 17, 2012.Tim Chong

SINGAPORE (Reuters) - Shares of Oversea-Chinese Banking Corp Ltd (OCBC.SI) rose slightly in early trading on Tuesday after Singapore's second-biggest lender made a formal offer to buy Hong Kong's Wing Hang Bank Ltd 0302.HK for HK$38.428 billion ($4.95 billion).

OCBC shares gained 0.3 percent to S$9.54 after its trading halt was lifted. Singapore's broader Straits Times Index .FTSTI was 0.4 percent higher.

OCBC is offering HK$125 a share to buy all shares of Wing Hang, according to a joint announcement, after having reached a deal with the bank's biggest shareholder to purchase a nearly 45 percent stake.

Reporting by Eveline Danubrata; Editing by Paul Tait

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