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SIA
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uiop1223
Supreme |
27-Mar-2020 09:40
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Thats what my broker said too when i call in to try to short.
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Shifu8888
Supreme |
27-Mar-2020 09:40
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Price will hover around $5 plus minus before rights, after rights turns shares, market makers may normally pump to create demand so that they can run. Eventually the price will have to correct to $4.50 region depending on how bad this Uncle Covid is. If worsen, Bellow $4, if ok, still back to around $5 and not more than that cos SIa will take Longer than other airlines to recover. I had explained before why. Anyway I am also not sure. | ||||
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uiop1223
Supreme |
27-Mar-2020 09:37
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I want to buy later at <$3 😍
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Rammerjammer
Veteran |
27-Mar-2020 09:35
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Don't argue with the pilot. | ||||
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Observers
Elite |
27-Mar-2020 09:34
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Shorts need to cover before the rights and bonds issue else very troublesome.
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ahhuat08
Elite |
27-Mar-2020 09:34
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strange, actually rights is highly dilutive, and the ex theorethical ex rights price should have been 4.4, now its trading at a premium bbs are controlling the prices dyodd |
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sgtrader101
Senior |
27-Mar-2020 09:33
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It has been a good run for me, good luck for those still vested. With the rights issue, it will be good for SIA moving forward.
Happy trading :) |
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SEBRAX
Member |
27-Mar-2020 09:32
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ah gong suporting via proxy- temasek
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uiop1223
Supreme |
27-Mar-2020 09:32
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For the past week when sia shares jump, if temesak buy, being a ssh, must disclose in sgx? But i didnt see any announcement? TA expert supporting? | ||||
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AhLiang
Elite |
27-Mar-2020 09:30
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Is Ah Kong supporting? | ||||
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Joelton
Supreme |
27-Mar-2020 09:29
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SIA to raise S$8.8 billion via rights issue of shares and convertible bonds amid Covid-19 crisisFRI, MAR 27, 2020 - 1:57 AM WITH the Covid-19 pandemic paralysing airline operations worldwide, Singapore Airlines (SIA) is raising S$5.3 billion in new equity and S$3.5 billion via 10-year mandatory convertible bonds (MCBs) as its largest shareholder Temasek Holdings throws its support behind the national carrier. According to a filing to the Singapore Exchange early on Friday morning, the company is proposing a renounceable rights issue of new ordinary shares and mandatory convertible bonds to raise about S$8.8 billion. Up to 1.77 billion rights shares will be issued at S$3 per share on the basis of three rights shares for every two existing ordinary shares held by shareholders. The issue price represents a discount of about 53.8 per cent to the last transacted price of the S$6.50 on March 25, that being the last trading day prior to the announcement. Meanwhile, up to S$3.5 billion of rights MCBs will be issued at S$1 for each rights MCB on the basis of 295 rights MCBs for every 100 existing ordinary shares held by shareholders. The rights MCBs are convertible into fully paid up new shares based on the conversion price of S$4.84, which is a 10 per cent premium to the theoretical ex-rights price of S$4.40 per share. In addition, SIA will be seeking approval to further issue up to S$6.2 billion of additional MCBs on similar terms and to be offered to shareholders via one or more rights issues down the line. This could take place within 15 months of being approved by shareholders. The national carrier said that Temasek - which currently holds a stake of 55.46 per cent - will vote in favour of the resolutions and has committed to subscribe for its full entitlement and the remaining balance of both issuances. Meanwhile, SIA has also arranged a S$4 billion bridge loan facility with DBS Bank to help meet the airline&rsquo s near-term liquidity needs. Of the S$8.8 billion in proceeds, SIA plans to use S$3.7 billion for operating cashflow, S$3.3 billion for aircraft purchases and aircraft related payments, and the rest for debt servicing and other payments. The Covid-19 pandemic has presented an unprecedented crisis for airlines around the world, forcing them to slash capacity, ground aircraft and shed jobs as countries tighten their borders to visitors. The International Air Transport Association has estimated that global carriers will need up to US$200 billion in aid from governments to save the aviation industry. SIA chairman Peter Seah said: &ldquo This is an exceptional time for the SIA Group. Since the onset of the Covid-19 outbreak, passenger demand has fallen precipitously amid an unprecedented closure of borders worldwide. We moved quickly to cut capacity and implement cost-cutting measures.&rdquo He added: &ldquo The board is confident that this package of new funding will ensure that SIA is equipped with the resources to overcome the current challenges, and be in a position of strength to grow and reinforce our leadership in the aviation sector.&rdquo Temasek International chief executive Dilhan Pillay Sandrasegara, highlighted: &ldquo This transaction will not only tide SIA over a short-term financial liquidity challenge, but will position it for growth beyond the pandemic.&rdquo He went on to add that Temasek fully supported SIA&rsquo s ongoing efforts to transform itself, which includes the modernisation of its fleet with the acquisition of new fuel efficient aircraft over the next few years in line with its expansion strategy. The SIA group is facing its biggest crisis to date, having announced on Monday that it would make sweeping capacity cuts of 96 per cent until end-April. This will see it ground 138 SIA and SilkAir planes out of their combined 147 aircraft while low-cost unit Scoot is suspending almost its entire network. Shares in SIA were halted from trading on Friday morning pending the release of the announcement. https://www.businesstimes.com.sg/companies-markets/sia-to-raise-s88-billion-via-rights-issue-of-shares-and-convertible-bonds-amid |
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boyboy61
Supreme |
27-Mar-2020 09:29
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looking at sell and buy q, only retailers are in....smart money staying sideline
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trademaster
Supreme |
27-Mar-2020 09:28
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Px should settle around 6.50
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sgtrader101
Senior |
27-Mar-2020 09:27
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Since you foresee it to go below $3, just short it!
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uiop1223
Supreme |
27-Mar-2020 09:26
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Wait for ex-entitlement. Confirm price be below $3. Why the hurry?
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hmmhmm
Elite |
27-Mar-2020 09:26
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Hmm...Will it be "U" curve....? | ||||
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boyboy61
Supreme |
27-Mar-2020 09:24
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wanted to get at 5.83 but systam laggig. missed opportunity now at 6.13....hianz
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boyboy61
Supreme |
27-Mar-2020 09:23
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Pepople would buy at higher price then $5. This is because the share has nto gone ex-rights yet
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AhLiang
Elite |
27-Mar-2020 09:21
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Mr Expert I can guarantee you.
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trademaster
Supreme |
27-Mar-2020 09:21
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Funds has to push up for successfult rights subsription
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