7-Jan-2010 9:11 AM

Tiger Airways planning to raise USD196 million in IPO

Tiger Airways announced (06-Jan-2010) plans to raise up to SGD273 million (USD196 million) in its IPO, through the sale of 165 million shares valued at between SGD1.35 and SGD1.65, representing 30% of total shares. The pricing reflects a price-to-earnings ratio of 11.4 to 13.9 times its 2011 earnings forecast. The LCC plans to use the funds to support aircraft orders, pay off loans and establish new bases. Current stakeholder, Indigo Partners plans to sell 5.8% of its stake in the sale, while RyanAsia will also sell down some of its stake if the issue is oversubscribed. The carrier launched its investor roadshow for the IPO on 06-Jan-2010. [more - Dec-2009 prospectus]

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More