Great Eastern shares close at $13.50 after year-long suspension, 1-for-1 bonus issue

Shares of Great Eastern (GE) resumed trading on Aug 21 on the Singapore Exchange following a more than a year-long suspension, after a bonus issue restored the insurer's minimum free float requirement.

- Sheila Chiang

The stock opened at $13.50 at 9am, with a low of $12.80 and a high of $14.70 for the day before closing back at $13.50.

This compares with its July 2024 pre-suspension closing price of $25.80, which on an adjusted basis following the one-for-one bonus issue would be equivalent to $12.90.

GE shares had been suspended in July 2024 after the stock's public float fell below the 10 per cent minimum following a failed takeover bid by majority shareholder OCBC Bank.

The insurer on Aug 19 said shareholders should expect its trading price to adjust correspondingly when trading resumes, given the bigger share base.