Following the voluntary conditional general offer for all the issued ordinary shares in the capital of Tiger Airways, Singapore Airlines and its concert parties said they have acquired 74.5% or 1.86 billion Tiger Airways shares as of Monday.
This is short of the 90% stake it requires to take the budget airline private.
The shortfall could explain SIA's decision to extend its offer to buy Tigerair shares from its original Dec 28 deadline.
On Monday, SIA said it was extending by more than a week the deadline to buy out all the the shares in Tiger Airways. Shareholders of Tiger Airways will now have until Jan 8 to decide whether to accept SIA's offer to pay 41 a share.
The decision comes after the Securities Investors Association Singapore asked the airline’s board to consider extending the deadline and also consider improving the offer price.
Tiger shareholders may also subscribe to SIA shares at $11.1043 per share as a way of participating in Tiger's future growth.
It was on Nov 6 that SIA first announced it was making a voluntary conditional general offer for all the shares in Tiger Airways it does not already own.
Shares in Tiger Airways closed flat at 40.5 cents on Monday while shares in SIA rose 0.63% to $11.12.
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This is short of the 90% stake it requires to take the budget airline private.
The shortfall could explain SIA's decision to extend its offer to buy Tigerair shares from its original Dec 28 deadline.
On Monday, SIA said it was extending by more than a week the deadline to buy out all the the shares in Tiger Airways. Shareholders of Tiger Airways will now have until Jan 8 to decide whether to accept SIA's offer to pay 41 a share.
The decision comes after the Securities Investors Association Singapore asked the airline’s board to consider extending the deadline and also consider improving the offer price.
Tiger shareholders may also subscribe to SIA shares at $11.1043 per share as a way of participating in Tiger's future growth.
It was on Nov 6 that SIA first announced it was making a voluntary conditional general offer for all the shares in Tiger Airways it does not already own.
Shares in Tiger Airways closed flat at 40.5 cents on Monday while shares in SIA rose 0.63% to $11.12.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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