Tiger Airways rights issue fully subscribed

Singapore

TIGER Airways has completed its rights issue, which was fully subscribed, raising some S$230 million.

Meanwhile, Singapore Airlines' (SIA) stake in Tiger remains at 55.8 per cent following the rights issue. Major shareholder SIA had initially said it would commit up to S$140 million by subscribing for its entitlement and for any excess rights shares. SIA had previously bumped up its stake in Tiger from 40 per cent after it converted its perpetual convertible capital securities holdings into shares.