Tiger Airways confirms plans to launch an IPO, Indigo to divest part of stake
Tiger Airways lodged a preliminary prospectus with the Monetary Authority of Singapore regarding its plans to launch an IPO to help funding aircraft orders (Bloomberg, 21-Dec-2009/AFP, 22-Dec-2009). The prospectus did not disclose how much the carrier plans to raise, but did confirm that Citigroup, DBS Bank and Morgan Stanley have been hired to assist with the sale. Indigo, which currently has a 24% stake in the carrier, will divest part of its stake through the sale, while RyanAsia Ltd plans to decrease its stake if an over-allotment option is used (Reuters, 21-Sep-2009). Singapore Airlines and Temasek have no plans to divest any of their stakes.