SIA sees active trading as shares go ex-rights

Singapore

SINGAPORE Airlines (SIA) shares saw high volumes changing hands on their first day of ex-rights trading, ahead of the flag carrier's S$8.8 billion fundraising.

The stock opened at S$4.235 on Wednesday, 28.3 per cent or S$1.675 lower than Tuesday's closing price. It then rose to an intra-day high of S$4.925 about 20 minutes after the opening bell, and traded within the S$4.49 to S$4.845 range for the rest of the day.