Singapore Airlines battles pandemic with jumbo rights issue, CB combo

Plane 230x150
By Jonathan Breen
27 Mar 2020

Singapore’s flag carrier is planning to raise S$8.8bn ($6.16bn) from a concurrent rights issue and sale of convertible bonds to help stem crippling losses driven by the Covid-19 coronavirus.

Singapore Airlines’ (SIA) share price reacted badly to the news, diving 10% on Friday morning to S$5.85 per share. The drop followed a trading halt in the stock on Thursday while SIA announced its fundraising plan. By midday on Friday, the share price recovered to S$6.27 apiece, but ...

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