UPDATE 19/1/10: The Tiger Airways float has been oversubscribed with shares sold at S$1.50… Earlier Story: Will it fly? That’s the question many in the industry are asking about the imminent float of Tiger Airways on the Singapore Stock Exchange. The low cost carrier is hoping to raise S$246.8m with shares priced at a maximum of S$1.65. It remains a tough time for aviation and there is scant investment industry support for the float which, if successful, will give two of the original investors (the Ryan family and Indigo Partners) an immediate exit with no escrow on their holdings. Some think that’s cheeky. The money raised will be used to buy new aircraft, pay down debt and potentially fund expansion. The offer closes on Monday and the shares are due to list January 22. Tiger lost S$50.8m in the 12 months to March 31.
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