SGX approves proposed delisting of Tiger Airways

THE takeover offer from Singapore Airlines (SIA) for Tiger Airways Holdings has received an in-principle approval from Singapore Exchange (SGX).

SGX confirmed on April 14 that it has no objection to the proposed delisting subject to the completion of the compulsory acquisition. It also confirmed it has no objection to granting Tiger Airways a waiver of the requirement under Rule 1307 of its Listing Manual that the proposed delisting be approved by shareholders in a general meeting.

The proposed delisting will not affect the listing status of the perpetual convertible capital securities issued by Tiger. These will remain listed on SGX.