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

SINGAPORE (Reuters) - Shares of Oversea-Chinese Banking Corp (OCBC) 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 for HK$38.4 billion (S$6.2 billion).

OCBC shares gained 0.3 per cent to $9.54 after its trading halt was lifted. Singapore's broader Straits Times Index was 0.4 per cent 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 per cent stake.