Tiger Airways

[LionFlyer]

You pay for what's it worth now, not what's it was price in the beginning.

[cfa]

will it go thru? 
cos many could have bought it when it was a dollar odd..

now Tiger will correct to 41cents.
good esp for those that bought when it was as low as odd 30cents .
but those long time shareholders will, esp those that started in Jan 2010, when it first IPOed at $1.50 will be ....
granted, there were some rounds of stock issue.. 

i duunoe man. feels like low ball at first glance..
just a personal view here

(not vested in airlines atm)..

Many right issues were above offered price also .

[thor666]

Slightly off but still related:
I got nearly stuck in bali yesterday due to volcanic ashes from lombok. Was to take tiger (which I eventually took a delayed flight). Anyway, as I was frantically searching T&c on delays amd information, noticed tiger's official website referred to scoot t&c for more details...

Probably says something about how SIA wants to manage tiger moving forward...

Sent from my D5503 using Tapatalk

[Nebula]

the announcement states that the offer is conditional that SIA acquires 90% of the shares.

does this mean that, although the shareholder has agreed to sell at $0.41, SIA can back out of the deal if it does not receive 90% acceptance level?

[level13]

will it go thru? 
cos many could have bought it when it was a dollar odd..

now Tiger will correct to 41cents.
good esp for those that bought when it was as low as odd 30cents .
but those long time shareholders will, esp those that started in Jan 2010, when it first IPOed at $1.50 will be ....
granted, there were some rounds of stock issue.. 

i duunoe man. feels like low ball at first glance..
just a personal view here

(not vested in airlines atm)..

An excellent example of why value investors who are taking a long term view should never never buy in at the IPO. 

Although there are successful examples, but generally speaking stock prices are inflated during IPO.

[greengiraffe]

IIRC, such takeover gesture involving GLCs are classic bailout situation... doesn't speak much about the merit of the deals.

In time to come we can expect further stream lining of the KepCorp Sembcorp group...

No Eyes See
Odd Lots Vested Except Tiger

[Art or Science]

SIAS urges Singapore Airlines to revise Tiger offer, deadline


TODAY reports: SIA last month made a S$453 million offer to buy out the other shareholders of Tigerair, but some of the budget carrier's minority shareholders felt SIA’s offer was “not reasonable”.


SINGAPORE: The Securities Investors Association Singapore (SIAS) has appealed to the board of Singapore Airlines (SIA) on behalf of long-term Tiger Airways minority shareholders, asking SIA to revise its buyout offer and extend the deadline for acceptance by two weeks. The offer closes on Dec 28.
“We are concerned only about the long-term Tiger Airways minority investors, who have stayed with the company through thick and thin. These are the shareholders who are not satisfied and may not accept the offer,” Mr David Gerald, SIAS president and CEO said in a letter addressed to SIA’s chairman and board members.
SIA, which owns 55.8 per cent of Tigerair, last month made a S$453 million offer to buy out the other shareholders of the budget carrier.
South-east Asia’s largest carrier offered S$0.41 in cash for each share, a 32 per cent premium to Tigerair’s closing price the day before the deal was announced. SIA’s offer also comes with an option to subscribe to SIA shares at S$11.1043 a share.
The voluntary offer is conditional on SIA and parties acting in concert with it owning more than 90 per cent of Tiger. SIA will de-list Tiger from the Singapore Exchange if the buyout is successful.
Maybank Kim Eng Securities, the independent financial adviser (IFA) appointed by Tigerair’s independent directors, advised shareholders last week to accept SIA’s offer, saying the deal is “fair and reasonable”.
“We are fully aware of the IFA report, which unfortunately did not take the long-term shareholders’ views,” Mr Gerald said in the letter.
He acknowledged the difficulties Tigerair has faced in the low cost carrier business space and that the share price would not be where it is today without SIA’s offer. However, he added, the question on the minds of the longstanding minority shareholders is “Can SIA do better?”.
The shareholders are questioning why SIA was previously willing to pay more for the Tigerair shares to Temasek at S$0.678, but not to the Tigerair minority to take it private now, Mr Gerald said.
“They also point out to us that SIA paid S$0.565 to increase its stake from 40 per cent to 55.8 per cent. This was only possible because minority shareholders had earlier granted a whitewash waiver without making a general offer,” he added. “It is also to be noted that the IFA report did not take into consideration these factors.”
Mr Gerald asked the board to extend the deadline for acceptance by two weeks in view of the holidays, and consider improving the offer.
“Perhaps a compromise taking into consideration what SIA last paid for Tiger shares. This will pacify disgruntled Tiger shareholders and help SIA achieve the 90 per cent threshold,” Mr Gerald said.
The letter on Friday (Dec 18) comes one month after SIAS said some Tigerair minority shareholders felt SIA’s offer was “not reasonable”.
The reason for this, Mr Gerald said last month, was that shareholders who bought Tigerair shares during its initial public offering in 2010 at S$1.50 a share and subscribed to all three rights issues since then would have paid an average of S$0.67 a share.
That would make SIA’s offer 39 per cent lower than what these long-term minority shareholders have paid, he added.

http://www.channelnewsasia.com/news/busi...61790.html

[desmondxyz]

SIAS has no influence and totally useless, don dream of revised bid from SIA...

[desmondxyz]

http://infopub.sgx.com/FileOpen/Singapor...eID=383110

A big slap on SIAS..... As expected

[CityFarmer]

http://infopub.sgx.com/FileOpen/Singapor...eID=383110

A big slap on SIAS..... As expected

There is a misconception, that voicing up should get what you want, otherwise a failure, IMO   It is a flaw concept usually held by vocal minorities.

The voice is heard, by both public and SIA. SIA has responded publicly. The process is in full transparency. It is a meaningful procedure, IMO.

(not vested in both SIA, and Tiger Air)