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SIA
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danger
Supreme |
03-Jun-2020 10:01
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ALL THE SHORITS AND DOOMSAYERS FROM LAST 1-2 WEEKS ALL DISAPPEARED ALL CRY TILL NO TEARS |
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Joelton
Supreme |
03-Jun-2020 09:58
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SIA rights shares fully subscribed Temasek to mop up bulk of MCBs
THE rights issue of shares by Singapore Airlines (SIA) has been fully subscribed, though shareholders were less keen to participate in the rights issue of mandatory convertible bonds (MCBs), application results out on Tuesday showed.
At the close of the rights issue on May 28, valid acceptances and excess applications were received for 2.13 billion rights shares, representing close to 120 per cent of the 1.78 billion rights shares available under the rights issue.
Controlling shareholder Temasek Holdings, which owns 55.5 per cent of SIA, took up its full pro-rata entitlement of 986 million rights shares.
A total of 67 million rights shares which were not validly taken up will be allotted to satisfy excess applications. SIA directors and substantial shareholders like Temasek will rank last in priority for the rounding of odd lots and the allotment of excess rights shares.
As for the rights issue of MCBs, this turned out to be under-subscribed.
Valid acceptances and excess applications were received for S$2.08 billion in principal amount of rights MCBs, representing just 59.6 per cent of the S$3.5 billion in aggregate principal amount of rights MCBs available under the rights issue.
Of this, S$1.94 billion was attributed to Temasek&rsquo s pro-rata entitlement to the rights MCBs.
Since the rights issue is fully underwritten by Temasek, the balance S$1.41 billion in principal amount of unsubscribed rights MCBs, representing 40.4 per cent of the total amount of MCBs available, will be taken up by Temasek.
The newly issued shares and MCBs will be listed on the Singapore Exchange on or about June 8 and June 9 respectively.
Trading of the shares will commence at 9 am on June 8 trading of the MCBs will start the following day, also at 9am.
SIA thanked shareholders for their support for the company through their participation in the rights issue.
" The completion of the rights issue forms an important part of the company&rsquo s strategy to deal with the impact of Covid-19 on its business," SIA said.
https://www.businesstimes.com.sg/companies-markets/sia-rights-shares-fully-subscribed-temasek-to-mop-up-bulk-of-mcbs#:~:text=The%20balance%20S%241.41%20billion,be%20taken%20up%20by%20Temasek. |
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SAVIORFOREVER
Supreme |
03-Jun-2020 09:40
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Frying up to sell down?
Trade with ? and no short and DYODD
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Wasim_Trade
Senior |
03-Jun-2020 09:05
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$4.22 fying up...
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Bennytan23
Senior |
03-Jun-2020 08:44
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SIA going very strong for long term for sure. likely price will dip on the 8th June Monday cos of the SIAR shares being converted and able to trade from then. more supply assuming same demand. Likely price down first 2-3 days then up from then again. hopefully price down a lil for those who wanna keep for long. 🤑 |
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Surin888
Senior |
03-Jun-2020 08:36
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No surprise at all! Sia is taking off nicely for sure. It' s not a penny stock. It' s mean for long term buy.
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Wasim_Trade
Senior |
03-Jun-2020 08:23
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Nobody can predicts what would happen after 8 of June, we may all get suprised by price jumping up !
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Wasim_Trade
Senior |
03-Jun-2020 08:19
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$3.7 or $4 no much differnce, if u buying for longterm I noticeed that there few people here speading fears about future of SIA! All businesses suffer during this Pandemic era...
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SAVIORFOREVER
Supreme |
03-Jun-2020 08:07
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Good price to sell mother shares?
Trade with ?
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Value_finder
Member |
03-Jun-2020 07:54
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I just want to highlight that people who buy from open market now is buying way above pre covid price, unless they are covering shorts.
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TheDuellist
Senior |
03-Jun-2020 07:34
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I believe you missed out on the Rights exercise price of $3 each. For simplicity sake, I will leave out the Rights MCB. For current $4.10 the pre-exercise price should be equate somewhere at $5.75 (CR) (I am calculating based on the break-even point)
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AhLiang
Elite |
03-Jun-2020 07:24
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Is there any reason to buy now if you are not covering shorts? Myself will wait till new shares flood the market. Then observe first. If not worth to touch I will just give it a miss.
Hope that fundamental HERO don't follow me. I am just targeting at him to make him lose his coffin money.
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Due_Dilligence
Veteran |
03-Jun-2020 07:23
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4.1 x 5 = 20.5,
20.5 - 9 = 11.5 11.5 / 2 = 5.75 |
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Value_finder
Member |
03-Jun-2020 07:13
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There are 2.5 times more shares after rights. Does it mean buying at 4.1 now is equivalent to buying at 10.25 before the rights issue? | ||||
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TheDuellist
Senior |
03-Jun-2020 06:36
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I have not done it this way, neither do I know if it can be legally executed. But it is always a good pre-emptive move to try to get ahead of the market. Normally I will use my CFD account for this hedging purpose only. If you do not have a CFD account, you should consider opening one. But you may not make it on time. But you should have one for future use.
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xtraderx
Veteran |
03-Jun-2020 00:05
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Minority shareholders should be happy Temasek is willing to be robert, this thing will be under $3 now without temasek backstop.
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123prime
Member |
02-Jun-2020 23:44
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Iinvestor 55% seem to be Mr Big Brother aka Robert ! Good things Everybody want and even apply excess Rights.....They are last in the queue. Lousy MCB ,even Directors ,CEO and Chairman would not touch.... Investor 55% left mopping up the MCB. By the way ,who design this MCB ? Designer dont like their own design ?
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abkt999
Member |
02-Jun-2020 22:59
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May I check does blocked quantity reflected in CDP mean that subscription is successful? | ||||
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a4andrew
Member |
02-Jun-2020 22:28
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so it seems like there are 350 mil of excess shares applied and abt 67mil shares available to be allocated. And temasek and directors are lowest priorities, it seems that retail investors might have good chance of getting the excess shares they had applied for...
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a4andrew
Member |
02-Jun-2020 22:25
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Bought some @ $1 average. Hmm... i was thinking whether is it possible to sell on 4 or 5th june since it takes a few days later for the shares to be deducted from cdp
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