Companies & Markets

Create a free account with Business Times for seamless access across SPH Media products.

REGISTER

LOGIN

Companies & Markets

SUBSCRIBERS

SIA gets shareholder nod for S$15b cash call amid Covid-19 crisis

It will issue up to 1.77b new shares at S$3 per share to raise S$5.3 billion, and also raise more funds through mandatory convertible bonds

Nisha Ramchandani

Nisha Ramchandani

Published Thu, Apr 30, 2020 · 09:50 PM

Singapore

SHAREHOLDERS voted in favour of Singapore Airlines' (SIA) cash call at a virtual extraordinary general meeting (EGM) on Thursday, paving the way for the airline to raise up to S$15 billion as it battles its biggest crisis to date.

At the EGM, 99.79 per cent of the votes were in favour of the first resolution. This covers the raising of S$8.8 billion through a 3-for-2 rights issue of shares and a mandatory convertible bond (MCB) issue.

The secon…

SEE ALSO

Temasek opens Paris office, plans to invest S$20-25 billion in region over next five years

A NEWSLETTER FOR YOU

Friday, 8.30 am

SGSME

Get updates on Singapore's SME community, along with profiles, news and tips.

KEYWORDS IN THIS ARTICLE

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes

Companies & Markets

Purchase this article

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

Browse corporate subscription here

The Business Times