OCBC on Monday announced a S$3.37 billion rights issue, which will go towards funding its acquisition of Hong Kong's Wing Hang Bank.
It has proposed to sell 440 million new shares at S$7.65 on the basis of one rights share for every eight existing shares.
The issue price represents a 25 per cent discount to the closing price of S$10.20 per share on August 15, 2014.
OCBC had earlier guided that the S$6.2 billion offer for the Hong Kong bank - which will be fully taken over by the Singapore lender - will be funded through a mix of existing cash, new debt, and equity.
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