SIA slips on first day of rights shares trading; carrier secures over S$1b of credit facilities

Singapore

SINGAPORE Airlines (SIA) on Monday said it has raised over S$1 billion in credit facilities, in addition to the S$8.8 billion raised from its recent rights issue. The counter ended the day at S$4.290, down 0.9 per cent or four cents on the first day that its rights shares began trading.

Pursuant to its fundraising exercise, almost 1.8 billion rights shares were listed and quoted on Monday. On Tuesday, S$3.5 billion worth of mandatory convertible bonds (MCBs) will begin trading.