Overseas Chinese Banking Corporation (OCBC Bank)

[DP28]

Credit lending / shadow banking has always been a persistent problem in China. It seems like big sam is betting that the PBOC will do its best to avert a crisis like 07. Compared to historical acquisition, their bid may seem not overly priced. But in today's context, you dont know whether you are getting yourself into a lemon deal or not. Just Go big or go home.

Rated underperform by CS. Seem like more downside pressure selling into the acquisition.