Key shareholders are selling, something is definitely brewing.
http://www.theaustralian.com.au/bus...oads-in-sell-off/story-fn4xq4zx-1225907189722
Tiger Airways chief Tony Davis offloads in sell-off
Sam Holmes, From: Dow Jones Newswire, August 19, 2010 10:16AM
SOME of Tiger Airways' key shareholders have sold part of their stakes in a $S125 million ($103m) placement in the secondary market.
Indigo Singapore Partners, Ryanasia and Tiger Airways chief executive Tony Davis have sold 65.8 million shares at $S1.90 per share to a broad base of institutional investors. The company's stock price closed at $S1.98 yesterday.
Tiger Airways said in a statement it didn't participate in the placement and hasn't raised any additional funds as a result of the transaction.
"The company is also pleased that Indigo Partners and Ryanasia continue to be substantial shareholders," Tiger said in a statement.
"Ryanasia principal, Mr Declan Ryan, has also signalled his personal commitment to the company by agreeing to act as a director of Thai Tiger Airways Private Limited."
Davis retains more than 4 million shares and fully vested share options in the company.
Citigroup and Morgan Stanley jointly completed the placement.
http://www.theaustralian.com.au/bus...oads-in-sell-off/story-fn4xq4zx-1225907189722
Tiger Airways chief Tony Davis offloads in sell-off
Sam Holmes, From: Dow Jones Newswire, August 19, 2010 10:16AM
SOME of Tiger Airways' key shareholders have sold part of their stakes in a $S125 million ($103m) placement in the secondary market.
Indigo Singapore Partners, Ryanasia and Tiger Airways chief executive Tony Davis have sold 65.8 million shares at $S1.90 per share to a broad base of institutional investors. The company's stock price closed at $S1.98 yesterday.
Tiger Airways said in a statement it didn't participate in the placement and hasn't raised any additional funds as a result of the transaction.
"The company is also pleased that Indigo Partners and Ryanasia continue to be substantial shareholders," Tiger said in a statement.
"Ryanasia principal, Mr Declan Ryan, has also signalled his personal commitment to the company by agreeing to act as a director of Thai Tiger Airways Private Limited."
Davis retains more than 4 million shares and fully vested share options in the company.
Citigroup and Morgan Stanley jointly completed the placement.
