Tiger Airways | Sell
Jan 8 close: S$0.265
Target price: S$0.20
OCBC Investment Research, Jan 8
IN a bid to repair its balance sheet, Tiger Airways Holdings' (Tigerair) did a rights issue exercise, which closed on Dec 29, 2014, and was fully subscribed with total valid acceptances and excess applications received representing 156.7 per cent of the 1.147 million rights shares available for issuance. Post the rights issue, as FY15 forecast's book value strengthens from S$15.9 million to S$242.4 million,...