OCBC chief buys S$1 million in shares
(Singapore) - OCBC Bank Chief Executive David Conner has spent nearly S$1 million to buy 100,000 OCBC shares on the stock market.
According to the bank's statement to the Singapore Exchange, Conner paid $966,750 for the shares that were priced at $9.67 each.
It was the ex-Citibanker's first purchase of OCBC shares since he took over the running of the bank in April last year.
Under Conner's pay deal, he also has 300,000 share options that he has yet to exercise.
Shares of Singapore's smallest domestic lender have surged 10 percent since the surprise announcement last week of a special one-off dividend for shareholders, which will hand them a total of S$641 million.
It was the ex-Citibanker's first purchase of OCBC shares since he took over the running of the bank in April last year.
Under Conner's pay deal, he also has 300,000 share options that he has yet to exercise.
Shares of Singapore's smallest domestic lender have surged 10 percent since the surprise announcement last week of a special one-off dividend for shareholders, which will hand them a total of S$641 million.
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