Tiger Airways aims to raise $297m

Published on Mar 05, 2013
9:15 AM

Singapore budget carrier Tiger Airways aims to raise close to $300 million to fund future expansion plans. -- FILE PHOTO: BLOOMBERG

By Karamjit Kaur

Singapore budget carrier Tiger Airways aims to raise close to $300 million to fund future expansion plans.

In an announcement to the Singapore Exchange early Tuesday, the airline said it plans to offer new shares to existing stakeholders at 47 cents each.

This is a 34 per cent discount from the last traded price on March 4.

The airline will also issue what is called convertible securities which can be converted to normal shares in the future.

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