Date: November 24, 2015
A Tiger Airwaysﾒ shareholder, who held on to his IPO shares that was bought for $1.50 a share and subscribed to all three rights issues since IPO would have paid an average of $0.67 a share. The offer price is 39% lower than what long term minority shareholders paid. This offer, the minority feels, is not reasonable.
While SIAS understands that the current market conditions are different, nevertheless, the minority shareholdersﾒ interest must be taken into account. Therefore, SIAS calls upon the Board of Tiger Airways to carefully review the SIA offer to ensure that the minority is dealt with fairly. Minority shareholders should wait for the IFA report to determine the fairness of the offer.
David Gerald
Founder, President & CEO
Securities Investors Association (Singapore)
