Company Briefs: OCBC

OCBC

Republic Polytechnic (RP) students and their parents can pay tuition fees online using PayNow, under a new partnership between the school and OCBC Bank.

The polytechnic is the first educational institution in Singapore to adopt the electronic funds transfer service, OCBC said in a media statement yesterday.

RP will use OCBC's application programming interface to enable its students and their parents to pay from bank accounts with any of the nine PayNow participating banks. Users can scan a QR code on the student portal with their mobile phones to make the payments.

OCBC and RP will explore extending the use of PayNow to collect other payments in the future, such as fees for hostels, overseas trips and facility bookings.


CapitaLand

CapitaLand has entered into an agreement to sell its entire 24.09 per cent stake in Hong Kong-listed Central China Real Estate (CCRE) to CCRE shareholder Joy Bright Investments.

At a price tag of HK$2.83 billion (S$496 million), this works out to HK$4.30 per share.

The divestment is targeted for completion in the third quarter of this year. Mr Lucas Loh, president (China) for CapitaLand Group, said: "CapitaLand's stake in CCRE has generated stable returns over the years. As CCRE operates primarily in Henan province, outside of CapitaLand's core city clusters, the divestment would allow us to reallocate capital to other opportunities in our core businesses."


AB InBev Asia

Budweiser Brewing Company Apac Ltd, the Asia-Pacific unit of Anheuser-Busch InBev, has set terms for a Hong Kong initial public offering (IPO) that could raise as much as US$9.8 billion (S$13.3 billion).

The arm of the world's largest brewer plans to offer 1.63 billion shares at HK$40 to HK$47 apiece, according to terms of the deal obtained by Bloomberg. Budweiser was to start taking investor orders yesterday and price the offering on July 11. Trading is expected to start on July 19.

At US$9.8 billion, Budweiser Brewing's first-time share sale would be the world's biggest this year, surpassing Uber Technologies' US$8.1 billion offering in May. The price range represents a market capitalisation of US$54 billion to US$64 billion for Budweiser.

A version of this article appeared in the print edition of The Straits Times on July 03, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe