SIA's rights shares, MCBs to hit market on a tailwind of positive sentiment
Minority shareholders of SIA are about to discover if they were right to shun its rights issue of MCBs
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THIS week, shareholders of Singapore Airlines (SIA) will be able to begin trading their rights shares and 10-year mandatory convertible bonds (MCBs). And, by the looks of things, they should enjoy a strong tailwind of positive sentiment.
Markets around the world are in a sweet spot of sorts, buoyed by massive stimulus and news of economic activity re-starting. In particular, the United States Bureau of Labor Statistics said on Friday that the world's biggest economy regained some 2.5 million jobs in May.
This marked a sharp turnaround from April, when the US lost some 20.5 million jobs, and suggests that economic activity is recovering faster than expected.
