SIA directors opt to not subscribe for rights MCBs

Singapore

MOST directors of Singapore Airlines (SIA) have chosen to let their rights mandatory convertible bonds (MCBs) lapse without exercising them, despite proposing the MCB rights issuance to shareholders as part of a larger cash call in April.

SIA chief executive Goh Choon Phong let his provisional allotments in respect of 3.34 million rights MCBs lapse last week, according to a Singapore Exchange filing on Monday.