Singapore Airlines makes a final offer price for Tiger Airways shares, raising it to S$0.45 for the shares it does not already own. This represents a nearly 10% increase over the previous offer price of S$0.41 per share in the Voluntary Conditional General Offer announced on 6 November 2015.
The offer remains conditional upon SIA and parties acting in concert with it owning more than 10% of Tiger Airways by the close of the offer which is extended to 22 January 2016 at 5.30pm. Those who have already accepted the offer will be paid the new offer price, subject to the 90% acceptance condition being achieved.
This new offer price values Tiger Airways at approximately S$1.125 billion representing a price premium of 45% over the last traded price of S$0.31 before the order was announced. The new offer price exceeds the highest closing price since 25 October 2013 on a rights- adjusted basis.
