SocGen to Make Goodwill Payment to Singapore Airlines Short-Sellers
This article is for subscribers only.
Societe Generale SA will make a one-time payment to those who used its daily leverage certificates to short Singapore Airlines Ltd. stock and got wiped out after the carrier’s share price surged following an adjustment for a rights issue.
SocGen said it will pay 30 Singapore cents per certificate, the French bank wrote in a letter to investors on May 12. “The goodwill payment amount is not intended to compensate investors for all loss given the risks investors assumed in purchasing these structured products,” it said.