Deals
Singapore Air Drops on $6.2 Billion Capital Raise to Fight Virus
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Singapore Airlines Ltd. shares fell after the carrier unveiled a plan to raise about S$8.8 billion ($6.2 billion) to contend with the devastating impact of the coronavirus pandemic.
The company will issue S$5.3 billion in new stock at S$3 apiece, 54% lower than the last closing price on Wednesday, as well as convertible bonds, according to a statement Friday. State investor Temasek Holdings Pte., the carrier’s biggest shareholder, said it would back the resolutions.