Sats is rallying after months in doldrums as investors look past dilution from rights
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Raphael Lim
SATS has had a turbulent six months. After announcing it was in talks to buy the world’s largest air cargo handler Worldwide Flight Services (WFS), the company’s shares fell from S$4.09 to a low of S$2.38.
Since mid-March, however, the stock has been rebounding. It closed Monday (Apr 3) at S$2.78, representing a 16.8 per cent gain from its Mar 14 close.
Sats’ rights shares, issued to raise money for the acquisition, commenced trading on Mar 29. And the company announced on Apr 3 that it had completed the acquisition.
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