The offer price of $3 per rights share is a 53.8% discount off SIA’s last traded price of $6.50 before trading halt was called before the market opened on March 26.
SINGAPORE (March 27): Singapore Airlines, facing unprecedented stress from the Covid-19 outbreak, plans to tap shareholders and investors to raise up to $15 billion so that it can stay aloft, the company announced just before midnight on March 26.
The flag carrier plans to offer all shareholders the chance to subscribe for $5.3 billion in new shares. Shareholders who hold two existing SIA shares are entitled to subscribe to three new SIA shares at $3 each.
