SUBSCRIBERS

SIA's Virgin Australia stake could rise to 22.1%

Carrier to subscribe to Virgin's A$350m equity issue, along with Air NZ, Etihad

Published Thu, Nov 14, 2013 · 10:00 PM

[SINGAPORE] Singapore Airlines (SIA) could boost its stake in Virgin Australia (VA) to 22.1 per cent by subscribing to Virgin's A$350 million (S$407 million) equity issue, undertaken to pare debt against the backdrop of a tough domestic operating environment and stiff competition.

VA's other major shareholders, Air New Zealand (Air NZ) and Abu Dhabi's Etihad Airways, are also supporting the capital-raising exercise.

Under the non-renounceable entitlement offer, VA shareholders will be able to buy five new shares for every 14 existing shares held on record as at Nov 19, at 38 Australian cents a share; this is …

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes