Securities Investors Association (Singapore) or SIAS has published a letter sent to Singapore Airlines (SIA) following the announcement of its proposed issuance of additional mandatory convertible bonds (MCBs) amounting to $6.2 billion earlier this month.
The letter, written by SIAS chief executive David Gerald on May 27, raised a series of questions related to the MCB issuance, SIA’s strategy and outlook, and its financials.
Among these was a question raised on behalf of some shareholders on whether SIA is considering privatisation and/or delisting, similar to the privatisation of SMRT Corporation.
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