Tiger Airways Shares to Commence Trading on 22 January 2010

Travel News Asia Latest Travel News Podcasts Videos Tuesday, 19 January 2010

At the close of Tiger Airways Holdings Limiteds Singapore IPO on 18 January 2010 at 8.00 a.m., 27,072 valid applications had been received for approximately 260.1 million Offering Shares, resulting in the Singapore public offer tranche being approximately 21.0 times subscribed.

With respect to the international offering or placement tranche, the indications of interest received amounted to approximately 683.6 million Offering Shares, resulting in the placement tranche being approximately 4.5 times subscribed.

The Offering Shares have been priced at Sin$1.50. A total of approximately Sin$247.7 million in gross proceeds have been raised from the IPO, of which approximately Sin$233.3 million will go to Tiger Airways. Based on the Offering Price of Sin$1.50, Tiger Airways will have a market capitalisation of Sin$781.3 million at listing.

Commenting on the response to the IPO, President and Chief Executive Officer of Tiger Airways, Tony Davis said, We are absolutely delighted with the response to this IPO from both the retail investors in Singapore and major global institutional investors. We believe that the significant demand for shares in Tiger Airways from investors around the world is a strong vote of confidence in our low-cost business model and the growth potential of Tiger Airways.

Going forward, we aim to continue growing our airlines in Singapore and Australia as well as establishing new airlines in additional markets in Asia. Tiger Airways is well-positioned to leverage the opportunities for growth in air travel in Asia and Australasia, the fastest growing aviation market in the world.

The Shares will be traded in Singapore Dollars and are expected to commence trading on the Main Board of the SGX-ST at 9:00 a.m. on Friday, 22 January 2010.

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