Following the lead of DBS and OCBC, United Overseas Bank Limited (UOB) might be the third local bank to issue their own UOB preference shares during this period of financial turmoil.
Newspaper reports indicated that the yield might be 5.05%, which is slightly lower than the 5.1% offered by OCBC recently.
UOB has confirmed that they are currently considering issuing the preference shares and had already submitted a listing application to The Singapore Exchange Securities Trading Limited.
Once the necessary approval has been obtained, more details will be posted here of the UOB preference share offer.