What will DBS use the money for?

With the news of DBSÆs fresh capital-raising exercise, rumours have re-emerged of a possible tie-up with AustraliaÆs Westpac.
February 06, 2001

Given DBS’s extraordinary capital-cushion, observers feel confident a big acquisition is being planned, and Westpac – which trades on a price to book of 2.7 times and has a market cap of $13 billion – is regarded as the best possible contender.

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