DBS ACQUIRES REST OF DIAMOND HOLDINGS

DBS Group Holdings announced its subsidiary, the Development Bank of Singapore, has exercised a call option to acquire 706.31 million shares in DBS Diamond Holdings (DDH). This represents about 28.4 per cent of the remaining issued share capital of DDH. Each share was acquired at the call option price of HK$21.7 in cash. DBS Bank now owns 100 per cent of DDH, which in turn holds 100 per cent of Dao Heng.