The Business Times
business-time-50
SUBSCRIBERS

Sats aims to ‘reduce’ size of rights issue, says CEO, after sell-off over fears of potential S$1.7b cash call

google-preferred-sourceAdd BT as a preferred source
Uma Devi

Uma Devi

Published Thu, Oct 6, 2022 · 05:50 AM
    • Kerry Mok, chief executive of Sats, says the company is working on a mix of four funding options that will give it the “right funding structure to maximise benefits for shareholders”.
    • Kerry Mok, chief executive of Sats, says the company is working on a mix of four funding options that will give it the “right funding structure to maximise benefits for shareholders”. PHOTO: SATS

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    KERRY Mok, the chief executive of inflight caterer and ground handler Sats , wants shareholders to know he is looking out for their interests.

    Since Sats announced some details about a proposed acquisition of Worldwide Flight Services (WFS) last week – details that included a potential rights issue to raise S$1.7 billion – the counter has lost about 24 per cent of its value.

    In an interview with The Business Times, Mok stressed that the rights issue is just one of four funding sources for the deal.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    SATSM&AAviation

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    The yen weakened to a low of 125.33 yen per Singdollar on April 13, before recovering slightly to about 124.91 on April 15.

    Singaporeans can now buy record amount of yen per Singdollar

    Chinese Foreign Minister Wang Yi stopped short of explicitly naming the US or Israel as aggressors, a telling omission from a country that otherwise speaks with little diplomatic timidity.

    Beijing’s calculated silence on the Iran war 

    US President Donald Trump (left) with Chinese President Xi Jinping at a bilateral meeting on the sidelines of the Apec summit in Busan last October.

    China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result

    With the move, Ensign InfoSecurity will be reclassified as an associated company of StarHub, rather than a subsidiary.

    StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More