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Right issue price 'in line with market precedents', says SIA

Felicia Tan
Felicia Tan4/24/2020 07:40 PM GMT+08  • 5 min read
Right issue price 'in line with market precedents', says SIA
Singapore Airlines (SIA) has responded to an open letter to the Securities Investors Association Singapore (SIAS) on Friday.
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SINGAPORE (Apr 24): Singapore Airlines (SIA) has responded to an open letter to the Securities Investors Association Singapore (SIAS) on Friday.

The letter by SIAS contained some 12 questions that covered issues concerning the airline’s issuing of 1.7 billion new ordinary shares at an issue price of $3 per share, raising some $3.50 billion in aggregate principal amount of mandatory convertible bonds (MCBs) at $1 each, and the proposed issue of up to $6.2 billion worth in aggregate principal amount of additional MCBs.

See also: Singapore Airlines to raise $15 bil via rights issue of new shares, mandatory convertible bonds

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