18-Jan-2010 11:57 AM

Tiger Airways raises USD178 million from IPO - report

Tiger Airways reportedly raised USD178 million from its IPO last week (The Financial Times, 17-Jan-2010). The institutional tranche of the offering has reportedly been three-and-a-half times subscribed, while the retail portion has reportedly been four times subscribed so far, and is expected to be eight to ten times subscribed by the time it closes on 18-Jan-2010. As a result, it is reportedly likely the strong demand will lead to an over-allotment clause, in which 19.8 million shares of stakeholder, RyanAsia’s shares would be offered.