Singapore shares drift up amid continued confusion over SIA value
Brokers say clients are asking about the intrinsic value of the MCBs that SIA has issued with its rights issue.
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SINGAPORE shares kicked off the week on a higher note on Monday, mirroring gains on Wall Street as countries prepare to reopen their economies gradually amid the Covid-19 pandemic.
The Straits Times Index (STI) opened at 2,597.85 and closed at 2,611.31, up 19.43 points or 0.75 per cent. Trade was relatively quiet, with 1.42 billion securities worth S$1.20 billion changing hands.
Brokers said they were bombarded with queries from clients still confused over the intrinsic value of the mandatory convertible bonds (MCBs) that Singapore Airlines (SIA) had issued together with its rights issue.
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