SIA's shares fully subscribed in its rights issue

Temasek nabbed pro-rata entitlement to 985.96 million rights shares.

Singapore Airlines (SIA) has announced that its rights issue of shares was fully subscribed, an SGX filing revealed.

Valid acceptances and excess applications were received for about 2.13 billion rights shares, representing approximately 119.5% of the 1.78 billion rights shares available. It includes 985.96 million rights shares, or 55.5% of the total rights shares available, which Tembusu had procured via subscription, comprising Temasek’s pro-rata entitlement to the said shares.

Around 67.481 million rights shares were not validly taken up and will be allotted to satisfy excess applications. “In accordance with the terms and conditions of the Rights Issue, the company had, in the allocation of excess rights shares to satisfy excess applications, given preference to the rounding of odd lots,” SIA stated.

As for the mandatory convertible bonds (MCBs), valid acceptances and excess applications were received for $2.08b in principal amount, representing 59.6% of the $3.5b in aggregate principal amount of rights MCBs available under the rights issue.

Tembusu holds 55.5% or $1.94b of the total MCBs available, also comprising Temasek’s pro-rata entitlement.