SIA taps investors for up to US$10.5b amid coronavirus shock
SIA is tapping existing investors for up to S$15b (US$10.48b) through the sale of shares and convertible bonds to offset the shock to its business from the coronavirus outbreak. The fundraising is being underwritten by the airline's biggest investor, state-owned Temasek Holdings, which owns about 55% of the group. SIA's shares went into a rare trading halt earlier in the day after plunging to their lowest in 22 years as investors feared the pandemic will have a deep impact on the company. "Under the current dire circumstances, the rights issue is the best tactical move for SIA. It underscores the carrier's strategic importance to Singapore and the island state's position as both a financial centre and aviation hub," Shukor Yusof, head of aviation consultancy Endau Analytics, said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-03-27/star/sia-taps-investors-for-up-to-us-10-5b-amid-coronavirus-shock
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SIA taps investors for up to US$10.5b amid coronavirus shock
SIA is tapping existing investors for up to S$15b (US$10.48b) through the sale of shares and convertible bonds to offset the shock to its business from the coronavirus outbreak. The fundraising is being underwritten by the airline's biggest investor, state-owned Temasek Holdings, which owns about 55% of the group. SIA's shares went into a rare trading halt earlier in the day after plunging to their lowest in 22 years as investors feared the pandemic will have a deep impact on the company. "Under the current dire circumstances, the rights issue is the best tactical move for SIA. It underscores the carrier's strategic importance to Singapore and the island state's position as both a financial centre and aviation hub," Shukor Yusof, head of aviation consultancy Endau Analytics, said. <br/>
