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If you wish to sell via the overseas providers, they will sell at whatever price when the instruction is received and remit the balance of funds back to you.
Another way is to instruct them (the US agent) to transfer whatever electronic stock scrip to a local brokerage, and send them (the local brokerage) the paper stock certificates to convert into electronic scrip, with whatever that is available from the transfer . There is a fee associated with doing this, but is not that high. Once everything is electronic, sell via their online site and withdraw your funds to your SG bank account as normal.
DBS Vickers, OCBC Securities, and UOB Kay Hian can all help with this in terms of procedure (i.e. the letter / written instruction to the US agents for the share transfer).
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(04-07-2014, 11:29 PM)Temperament Wrote: Just go and look at the history of when DBS bought over HK's DAO HENG. Not that it's comparable with OCBC to WING HANG but be careful in investment, they say there is no guarantee history will repeat itself. And the unsuccessful attempt of DBS trying to buy DANAMON Bank of Indonesia. How the market reacted at that times?
Remember History May Not Repeat Itself − But Sometimes It Rhymes.
Caveat Emptor!
it doesn't repeat itself for the broader market, that doesn't mean another sound company cannot come up with a better evaluation on things
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(06-07-2014, 08:21 AM)Drizzt Wrote: (04-07-2014, 11:29 PM)Temperament Wrote: Just go and look at the history of when DBS bought over HK's DAO HENG. Not that it's comparable with OCBC to WING HANG but be careful in investment, they say there is no guarantee history will repeat itself. And the unsuccessful attempt of DBS trying to buy DANAMON Bank of Indonesia. How the market reacted at that times?
Remember History May Not Repeat Itself − But Sometimes It Rhymes.
Caveat Emptor!
it doesn't repeat itself for the broader market, that doesn't mean another sound company cannot come up with a better evaluation on things For me whatever the pros & cons, i prefer to wait for the right issue time and decide then.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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(05-07-2014, 10:34 PM)thefarside Wrote: If you wish to sell via the overseas providers, they will sell at whatever price when the instruction is received and remit the balance of funds back to you.
Another way is to instruct them (the US agent) to transfer whatever electronic stock scrip to a local brokerage, and send them (the local brokerage) the paper stock certificates to convert into electronic scrip, with whatever that is available from the transfer . There is a fee associated with doing this, but is not that high. Once everything is electronic, sell via their online site and withdraw your funds to your SG bank account as normal.
DBS Vickers, OCBC Securities, and UOB Kay Hian can all help with this in terms of procedure (i.e. the letter / written instruction to the US agents for the share transfer). I think the 2nd way is safer if a Local Brokerage can handle everything for me. If not i have to send my stock certificates to US agents.
Thanks.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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Joined: Nov 2010
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OCBC’s bid for Wing Hang now unconditional
SINGAPORE — Oversea-Chinese Banking Corp’s (OCBC) HK$38.4 billion (S$6.17 billion) deal to take over Wing Hang Bank has turned unconditional, after its stake in the family-owned lender crossed 50 per cent.
But OCBC’s proposition to delist Wing Hang from the Hong Kong Stock Exchange could be in a pickle after hedge-fund firm Elliott Management raised its stake to nearly 8 per cent, the Wall Street Journal reported.
What is uncertain is whether OCBC will gain the roughly 90 per cent of shares needed under Hong Kong rules to squeeze out the remaining 10 per cent and delist Wing Hang.
In a filing with the Hong Kong Securities and Futures Commission, Elliott said it had bought an additional 8.7 million Wing Hang shares this week for HK$125 each, bringing its stake in the company to 7.8 per cent.
Elliott, run by billionaire Paul Singer, is known for an activist bent and agitating for a sale or board shake-up in companies in which it invests, pushing stock prices higher.
http://www.todayonline.com/business/ocbc...onditional
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07-07-2014, 10:32 AM
(This post was last modified: 07-07-2014, 10:34 AM by Temperament.)
Hmmm........
OCBC may have to pay a higher price liu for delisting Wing Hang?
Buy WING HANG now in anticipation if you dare? For me i 4Ks because of exchange rate (Singapore $ always appreciate one leh).
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Posts: 3,474
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Joined: Jul 2011
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17
(07-07-2014, 10:32 AM)Temperament Wrote: Hmmm........
OCBC may have to pay a higher price liu for delisting Wing Hang?
Buy WING HANG now in anticipation if you dare? For me i 4Ks because of exchange rate (Singapore $ always appreciate one leh). Is this opposite of "Buy on the rumor, sell on the news"?
Example, i shouldn't had missed the recent HPL's saga.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Posts: 150
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Joined: May 2013
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3
(07-07-2014, 09:02 AM)yawnyawn Wrote: OCBC’s bid for Wing Hang now unconditional
SINGAPORE — Oversea-Chinese Banking Corp’s (OCBC) HK$38.4 billion (S$6.17 billion) deal to take over Wing Hang Bank has turned unconditional, after its stake in the family-owned lender crossed 50 per cent.
But OCBC’s proposition to delist Wing Hang from the Hong Kong Stock Exchange could be in a pickle after hedge-fund firm Elliott Management raised its stake to nearly 8 per cent, the Wall Street Journal reported.
What is uncertain is whether OCBC will gain the roughly 90 per cent of shares needed under Hong Kong rules to squeeze out the remaining 10 per cent and delist Wing Hang.
In a filing with the Hong Kong Securities and Futures Commission, Elliott said it had bought an additional 8.7 million Wing Hang shares this week for HK$125 each, bringing its stake in the company to 7.8 per cent.
Elliott, run by billionaire Paul Singer, is known for an activist bent and agitating for a sale or board shake-up in companies in which it invests, pushing stock prices higher.
http://www.todayonline.com/business/ocbc...onditional
Since OCBC has already seize the control of Wing Hang,
it doesn't matter end of the day they own 60% or 88% after the takeover exercise.
Elliott Management trying to play hard to catch now, but I
don't think OCBC management is stupid enough to submit to them.
They can always wait, wait, wait, wait , and wait till the Hong Kong stock market crash !
Given the track record of OCBC in Great Eastern Life, I think Elliott Management can suck thumb and wait till their neck look like a Giraffe. 
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(07-07-2014, 01:50 PM)Layman A Wrote: (07-07-2014, 09:02 AM)yawnyawn Wrote: OCBC’s bid for Wing Hang now unconditional
SINGAPORE — Oversea-Chinese Banking Corp’s (OCBC) HK$38.4 billion (S$6.17 billion) deal to take over Wing Hang Bank has turned unconditional, after its stake in the family-owned lender crossed 50 per cent.
But OCBC’s proposition to delist Wing Hang from the Hong Kong Stock Exchange could be in a pickle after hedge-fund firm Elliott Management raised its stake to nearly 8 per cent, the Wall Street Journal reported.
What is uncertain is whether OCBC will gain the roughly 90 per cent of shares needed under Hong Kong rules to squeeze out the remaining 10 per cent and delist Wing Hang.
In a filing with the Hong Kong Securities and Futures Commission, Elliott said it had bought an additional 8.7 million Wing Hang shares this week for HK$125 each, bringing its stake in the company to 7.8 per cent.
Elliott, run by billionaire Paul Singer, is known for an activist bent and agitating for a sale or board shake-up in companies in which it invests, pushing stock prices higher.
http://www.todayonline.com/business/ocbc...onditional
Since OCBC has already seize the control of Wing Hang,
it doesn't matter end of the day they own 60% or 88% after the takeover exercise.
Elliott Management trying to play hard to catch now, but I
don't think OCBC management is stupid enough to submit to them.
They can always wait, wait, wait, wait , and wait till the Hong Kong stock market crash !
Given the track record of OCBC in Great Eastern Life, I think Elliott Management can suck thumb and wait till their neck look like a Giraffe. i think it does matter to OCBC. It is not free (in waiting) in terms of many considerations besides $. No?
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Posts: 295
Threads: 3
Joined: Nov 2010
Reputation:
8
(07-07-2014, 01:50 PM)Layman A Wrote: (07-07-2014, 09:02 AM)yawnyawn Wrote: OCBC’s bid for Wing Hang now unconditional
SINGAPORE — Oversea-Chinese Banking Corp’s (OCBC) HK$38.4 billion (S$6.17 billion) deal to take over Wing Hang Bank has turned unconditional, after its stake in the family-owned lender crossed 50 per cent.
But OCBC’s proposition to delist Wing Hang from the Hong Kong Stock Exchange could be in a pickle after hedge-fund firm Elliott Management raised its stake to nearly 8 per cent, the Wall Street Journal reported.
What is uncertain is whether OCBC will gain the roughly 90 per cent of shares needed under Hong Kong rules to squeeze out the remaining 10 per cent and delist Wing Hang.
In a filing with the Hong Kong Securities and Futures Commission, Elliott said it had bought an additional 8.7 million Wing Hang shares this week for HK$125 each, bringing its stake in the company to 7.8 per cent.
Elliott, run by billionaire Paul Singer, is known for an activist bent and agitating for a sale or board shake-up in companies in which it invests, pushing stock prices higher.
http://www.todayonline.com/business/ocbc...onditional
Since OCBC has already seize the control of Wing Hang,
it doesn't matter end of the day they own 60% or 88% after the takeover exercise.
Elliott Management trying to play hard to catch now, but I
don't think OCBC management is stupid enough to submit to them.
They can always wait, wait, wait, wait , and wait till the Hong Kong stock market crash !
Given the track record of OCBC in Great Eastern Life, I think Elliott Management can suck thumb and wait till their neck look like a Giraffe.
Elliott Puts Squeeze on OCBC-Wing Hang Deal
Elliott Management's Stake in Wing Hang Bank Complicates Life for Acquirer OCBC
There is little doubt OCBC will complete the takeover in some fashion. The terms of the offer required it to gain just over half of Wing Hang's shares and regulatory approval. It has both. What is at issue is whether OCBC can accumulate the roughly 90% of shares needed to delist Wing Hang from the Hong Kong stock exchange. Elliott's 8%, plus the 2% to 3% of shares that typically don't get voted in such deals, could be enough. There may be other investors on Elliott's side. If the deal doesn't get to 90%, the cost to OCBC shareholders could be substantial.
Under Hong Kong rules, if OCBC falls short of 90%, but has more than 75%, regulators will require it to issue Wing Hang shares back to the market to maintain the 25% minimum float requirement. It is highly likely those reissued shares would sell at a substantial discount to the 125 Hong Kong dollars (US$16.13) per share it is paying for Wing Hang. Basically, OCBC would be forced to buy high and sell low
http://online.wsj.com/articles/heard-on-...1404486060
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