Singapore Airlines

[¯|_(ツ)_/¯]

12 May 2020 Soc Gen explained its action taken to suspend and eventually cease trading of SQ DLC.  

(click for details)

Relative to other incidents, the wiping up of SQ DLC (5x short) was relatively mute.
Of course, BT carried an super lengthy article by MLee might be the trigger point for Soc Gen to offer a goodwill gesture.
Key things to note (other than 30cents refund), will be after XR, SQ stocks behave extraordinary aka take off by more than 20%.

For those who like to gamble, wait for the 30cents and get ready to roll again?

Stay home and stay safe, everyone.

[brattzz]

waos! first time see issuer give goodwill payment, 30cts,
5x short is total wipeout...

[ACTIVIST SPEAKS]

Goodwill?  Disappointing that even now, SG refuses to acknowledge they made a mistake in calculating the TERP. Instead they wrote :

"A corporate action on the part of a securities issuer announcing a simultaneous share and mandatory convertible bond issue is a far from frequent event.  A range of views is possible with regards to the theoretical value of the MCBs Rights on 6 May 2020 (being the date on which the shares of SIA commenced trading on an ex-Rights Issue Basis).  SG believes that it is a logical and fair view that the MCBs impact the price of the SIA DLCs."

SG value the rights of MCB at more than 15c while the market traded the rights close to zero......Shouldn't one just man up and admit one made a mistake...especially if the mistake has to do with simple arithmetic and time value of money.

[oys-ter]

Goodwill?  Disappointing that even now, SG refuses to acknowledge they made a mistake in calculating the TERP. Instead they wrote :

"A corporate action on the part of a securities issuer announcing a simultaneous share and mandatory convertible bond issue is a far from frequent event.  A range of views is possible with regards to the theoretical value of the MCBs Rights on 6 May 2020 (being the date on which the shares of SIA commenced trading on an ex-Rights Issue Basis).  SG believes that it is a logical and fair view that the MCBs impact the price of the SIA DLCs."

SG value the rights of MCB at more than 15c while the market traded the rights close to zero......Shouldn't one just man up and admit one made a mistake...especially if the mistake has to do with simple arithmetic and time value of money.

Is it really a case of a mistake? Or they have 2 possible TERP(one higher while the other lower) in mind already. From a biz prospective, by looking at which side of the DLC is being held more by the retail investor, a biz decision was then made...

[Shiyi]

12 May 2020 Soc Gen explained its action taken to suspend and eventually cease trading of SQ DLC.  

(click for details)

Relative to other incidents, the wiping up of SQ DLC (5x short) was relatively mute.
Of course, BT carried an super lengthy article by MLee might be the trigger point for Soc Gen to offer a goodwill gesture.
Key things to note (other than 30cents refund), will be after XR, SQ stocks behave extraordinary aka take off by more than 20%.

For those who like to gamble, wait for the 30cents and get ready to roll again?

Stay home and stay safe, everyone.

This is the first day trading of SIA Rights and MCB rights. But the buy-in market today wants to buy in the above two rights.
Does anybody know why? Are rights also subject to T+2?

[oys-ter]

12 May 2020 Soc Gen explained its action taken to suspend and eventually cease trading of SQ DLC.  

(click for details)

Relative to other incidents, the wiping up of SQ DLC (5x short) was relatively mute.
Of course, BT carried an super lengthy article by MLee might be the trigger point for Soc Gen to offer a goodwill gesture.
Key things to note (other than 30cents refund), will be after XR, SQ stocks behave extraordinary aka take off by more than 20%.

For those who like to gamble, wait for the 30cents and get ready to roll again?

Stay home and stay safe, everyone.

This is the first day trading of SIA Rights and MCB rights. But the buy-in market today wants to buy in the above two rights.
Does anybody know why? Are rights also subject to T+2?

Because someone shorted SIA CR and held it overnight to XR. The shortist managed to borrow SIA share but unable to borrow SIA R and MCB R. Thus, buy in was executed for shortist to cover delivery of SIA R and MCB R.

[new-comer1]

SIA full-year operating profit plummets 94.5 per cent on Covid-19 hit
https://www.straitstimes.com/business/co...vid-19-hit

[¯|_(ツ)_/¯]

14 May 2020 SQ FY19/20 Result

https://links.sgx.com/FileOpen/sgxann-q4...eID=610774
https://links.sgx.com/1.0.0/corporate-an...34e8da96cc

***
Out of Q4 net loss of $721m, fuel hedge loss is wopping $710m (MTM)

FY19/20 Result
Rev $15b down 2.1% yoy
GP $59m down 94%
NP -$212m 
No dividend declared

Stay home and stay safe, everyone.

[Shiyi]

12 May 2020 Soc Gen explained its action taken to suspend and eventually cease trading of SQ DLC.  

(click for details)

Relative to other incidents, the wiping up of SQ DLC (5x short) was relatively mute.
Of course, BT carried an super lengthy article by MLee might be the trigger point for Soc Gen to offer a goodwill gesture.
Key things to note (other than 30cents refund), will be after XR, SQ stocks behave extraordinary aka take off by more than 20%.

For those who like to gamble, wait for the 30cents and get ready to roll again?

Stay home and stay safe, everyone.

This is the first day trading of SIA Rights and MCB rights. But the buy-in market today wants to buy in the above two rights.
Does anybody know why? Are rights also subject to T+2?

Because someone shorted SIA CR and held it overnight to XR. The shortist managed to borrow SIA share but unable to borrow SIA R and MCB R. Thus, buy in was executed for shortist to cover delivery of SIA R and MCB R.

 
Thank you for the explanation. But isn't share lending suspended when a company undertakes corporate action?

[¯|_(ツ)_/¯]

Not true. Today, just received statement from SGX. 11 May 2020, SQ shares was on loan.

Stay Home and stay healthy, valuebuddies.