Tiger Airways prices shares at SGD1.50 - middle of range
Tiger Airways announced (18-Jan-2010) its offering price for shares has been fixed at SGD1.50 per share, raising SGD247.7 million (USD178 million), following the close of its IPO on 18-Jan-2010 (AFP, 18-Jan-2010). The carrier stated the pricing will mean it has a market capitalisation of SGD781.3 million (USD563.7 million). Taking into consideration the applications for shares and the indications of interest received, the underwriters have decided that 165.2 million shares (subject to the Over-allotment Option) will be allocated as follows:
- 152.8 million offering shares pursuant to the International Offering;
- 12.4 million offering shares pursuant to the Singapore Public Offer.
The offering is approximately 5.7 times subscribed. [more]
Tiger Airways: "Going forward, we aim to continue growing our airlines in Singapore and Australia, as well as establishing new airlines in additional markets in Asia. Tiger Airways is well-positioned to leverage the opportunities for growth in air travel in Asia and Australasia, the fastest growing aviation market in the world,” Tony Davis, CEO. Source: AFP, 18-Jan-2010.