MICEBTN, 29 Aug 2011
Singapore-based Tiger Airways is seeking S$158.6 million in a rights issue to fund expansion including the purchase of aircraft.
Shareholders Singapore Airlines (SIA) and Dahlia Investments, an indirect subsidiary of Singapore state investment firm Temasek Holdings, will subscribe to 90 per cent of the issue and as a result are likely to increase their current combined 40.2 per cent stake in Tiger.
Tiger says it expects to raise S$155.2 million net after deducting expenses of about S$3.4 million related to the rights issue exercise. Link
