Strong Debut for Tiger Airways’ Shares on SGX-ST

Tiger Airways Holdings Limited started trading on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST) at 9:00 a.m. on Friday, 22 January 2010.

 At the close of trading on the first day, the last done price of each share was Sin$1.58, 8 cents or 5.3% above the IPO price of Sin$1.50. It was also one of the most actively traded counters, with transacted volume of over 93 million shares. Tiger Airways’ shares opened at Sin$1.50 and reached a high of Sin$1.61, 7.3% above the IPO price.

Mr Magnus Bocker, Chief Executive Officer at Singapore Exchange said, “With this listing on SGX, Tiger Airways has joined 14 other companies in the transport sector worth some Sin$30 billion. I am pleased to note that SGX has been able to support Tiger Airways in raising Sin$248 million to fund its business growth at reportedly good valuation.”

Established in September 2004, Tiger Airways now operates a fleet of 17 Airbus A320-family aircraft and is committed to increasing its fleet size to 68 by December 2015. The airline operates flights to 33 destinations across 11 countries and territories in Asia and Australia from its aircraft bases in three locations – Singapore’s Changi Airport Budget Terminal, Tullamarine Airport in Melbourne and Adelaide Airport in South Australia.

Mr Tony Davis, Chief Executive Officer of Tiger Airways said, “We are proud to be the first low cost airline to list on the SGX-ST and would like to welcome all our new shareholders as we embark on our new journey as a listed company.”

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