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SIA Makes Offer To Privatise Tiger Air
Corporate Digest | 06 November 2015
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The group has also announced the launching of a voluntary conditional general offer for all the shares of Tiger Airways Holdings (Tigerair) that it does not already own, with an offer price of $0.41 per share in cash, as well as an option to subscribe for the group’s shares at $11.1043 per share. The offer price of $0.41 represents a 32.3 percent premium over the Tigerair’s last traded price of $0.31 on November 5, 2015.

The group currently owns 55.77 percent stake in Tigerair, and the assumed maximum consideration for the remaining issued ordinary shares, should there be full acceptance of the offer, will be approximately $471.9 million.

The group intends to delist Tigerair and thereby enable full synergies between Tigerair and other airlines in the SIA Group, through seamless cooperation in all aspect of the business including commercial activities, network coordination and operational and backroom areas.

This will allow the group to accelerate and strengthen the benefits to the SIA Group’s portfolio strategy, thus enabling the SIA Group to remain flexible and nimble in tapping into market segments that would not otherwise be available to the SIA Group, providing new revenue and profit generation opportunities.

Singapore Airlines  9.150 +0.09 +0.99%   
Business: Co provides air transportation services to destinations spanning a network spread over 6 continents. [FY19 Turnover] SIA (80%), Budget Aviation (10.5%), SilkAir (6.2%), SIAEC (3.1%), others (0.2%).

Insight: May-19, FY19 revenue edged up 3.3% to $16.3b. Pass... Read More

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