UOB, ANZ eye Hong Kong's Wing Hang Bank

Wing Hang Bank has a market cap of $4.7b.

Acording to a report by Reuters, Singapore's United Overseas Bank Ltd (UOBH.SI) and Australia & New Zealand Banking Group Ltd (ANZ.AX) are considering a bid for Hong Kong's Wing Hang Bank Ltd. This was relayed by people familiar with the matter.

Wing Hang (0302.HK), with a market capitalization of $4.7 billion, announced earlier this month that its controlling shareholders had received preliminary offers from independent third parties to purchase their shares in the bank. It did not name the bidders.

People familiar with the matter told Reuters on Saturday that ANZ and UOB were among the companies considering a bid for the Hong Kong bank. The Wall Street Journal also cited people familiar with the matter as saying UOB and ANZ had shown interest.

Read full report here.