DBS Bank, owned by DBS Group Holdings, increased a sale of preference shares to $800 million from $500 million after private investors bid for more than the securities on offer.

The 4.7% notes attracted applications for a total $1.8 billion, of which more than $1.4 billion came from individuals via ATMs and internet banking, DBS said in a Singapore stock exchange statement.

 

Southeast Asia’s biggest lender sold $1.7 billion of 4.7% preference shares to institutional investors in October, its largest sale of the notes since it raised $1.5 billion from 5.75% securities in May 2008, according to data compiled by Bloomberg. Interest from individual investors prompted DBS to consider a separate offering for them, Chief Financial Officer Chng Sok Hui said at the time.

 

The October notes, sold at par, last traded at 105.02 cents on the dollar to yield 4.429%, according to Oversea- Chinese Banking Corp. prices on Bloomberg.