Tiger takes off for $184m rights issue amid poor results

Tiger airways230px
By Rashmi Kumar
17 Oct 2014

Tiger Airways Holdings is set to raise S$234m ($184m) from an 85-for-100 rights issue, in which its largest shareholder Singapore Airlines (SIA) will increase its stake with the aim of making Tiger its subsidiary.

The rights offering comes on the back of Tiger reporting very weak results for the quarter ended September 30. It posted a 10.5% decline in revenues to S$146.7m, while loss after tax plunged to S$182.4m during the quarter, compared to profits after tax of S$23.8m for the same ...

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