December 21, 2009
SINGAPORE (AFP) - Budget carrier Tiger Airways said Monday it has informed the central bank of its plans to list on the Singapore Exchange ahead of an initial public offering (IPO).
The airline said in a statement it "has lodged its preliminary prospectus with the Monetary Authority of Singapore on 21 December in connection with a proposed listing on the main board" of the Singapore Exchange.
Dow Jones Newswires said the prospectus did not spell out how much money Tiger Airways plans to raise or the percentage of shares it plans to sell through the IPO.
But sources had earlier said Tiger is looking to raise 250 million Singapore dollars (178 million US) through the initial shares offer scheduled next month.
Tiger Airways, which is 49 percent owned by Singapore Airlines, flies from Singapore to destinations across Asia and to the Australian city of Perth. It also operates domestic services in Australia.
