Should investors answer SIA's call for more cash?
The airline group may have to issue more than 3.47b new shares when all its MCBs mature in 2030
WHEN Singapore Airlines offered its shareholders the first S$3.5 billion tranche of mandatory convertible bonds (MCBs) last year there were few takers other than Temasek Holdings.
Even SIA's chairman Peter Seah and its CEO Goh Choon Phong allowed their provisional allotments to lapse.
As a result, Temasek ended up holding 95.9 per cent of those MCBs even though it owned less than 56 per cent of SIA.
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