Tigerair’s rights issue fully subscribed at close

But yields will remain depressed in 2015.

Tiger Airways revealed this morning that its rights issue was fully subscribed at its close on December 29.

In a release to the SGX, Tigerair reported valid acceptances and excess applications were received for 1,797,426,548 rights shares, which represented 156.7% of the 1,147,102,770 rights shares available for issuance.

This figure includes a total of 1,147,112,005 rights shares accepted, or applied for by its parent carrier SIA. SIA’s rights shares are made up of comprising its pro-rata entitlement of 640,236,559 rights shares and 506,875,446 excess rights shares.

Apart from SIA, Tigerair also received valid acceptances and applications for excess rights shares received from other shareholders which represented 128.3% of their total pro-rata entitlement to rights shares.

Tigerair’s share capital now stands 2,496,635,441 shares after the rights issue. SIA’s stake remains to be 55.8% while other shareholders’ stake forms the remaining 44.2%.