SINGAPORE, Aug 25 (Reuters) - Budget Singaporean carrier Tiger Airways will raise S$158.6 million ($132 million) in a rights issue to shore up its capital, two weeks after it resumed flights in Australia following a six-week suspension.
The company will issue 273.42 million new shares at a price of S$0.58 per rights share, a 39 percent discount to its last traded price. It will issue one share for every two existing ordinary shares held.
Singapore state investor Temasek and Singapore Airlines , which collectively own about 40 percent of Tiger, will take up 90 percent of the rights, confirming an earlier Reuters story that the two companies would back the rights issue. The remaining 10 percent of the rights issue will be underwritten by lead managers DBS and Standard Chartered
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Tiger Air to raise $132 mln via rights
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26-Aug 2011 Friday
7:01 AM (4629 days ago)
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