DBS Bank exercised its call option to acquire 363,440 shares worth $211,812 through an off-market transaction in Singapore Post (SingPost) on March 14, after the shareholders approved the sale of its Australian business on March 13.
A call option is a financial contract that gives the buyer the right but not the obligation to buy a stock, bond, commodity, or other asset or instrument at a specified price within a specific period.
DBS’s stake in SingPost has now increased to 0.054%. This is an increase from the 0.037% stake the bank had in the national post in early Jan, in which the bank sold 200,000 shares for $107,000 apiece via the market on Dec 31, 2024.
The transaction that happened last December followed the termination of three of SingPost’s top executives over their alleged mishandling of a whistleblower report.
Shares in SingPost closed 1 cent lower or 1.77% down at 55.5 cents on March 14.
