Tiger Airways flies in strong IPO
Singapore-based budget carrier Tiger Airways had a successful IPO on the Singapore Stock Exchange, raising around S$247.7 million ($178 million) by listing some 30% of its shares, to fund its expansion plans, and to reimburse investors Indigo Partners, Temasek Holdings, Singapore Airlines, and the Ryanair family’s company, Ryanasia.
The institutional tranche of the offering was apparently oversubscribed 4x, and the public portion oversubscribed by 20x. The airline, which is still loss-making, was valued at about 12.6x forward earnings,...
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