Tiger Airways cuts conversion price of perpetual convertibles

By Marisa Wong

Madison, Wis., Oct. 17 – Tiger Airways Holdings Ltd. will adjust the conversion price of its perpetual convertible capital securities due to a rights issue, according to a notice.

The conversion price will be lowered to S$0.565 from S$0.74, effective when the company’s shares are traded ex-rights on the Singapore Exchange.

The company noted that the new conversion price is significantly higher than the closing price of its stock on Oct. 16, which was S$0.325.

The airline is based in Singapore.

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