Singapore Airlines *Official* (SGX:C6L)

[cherry6]

Haha, look at my post count! I new lah..

Den u must learn to use the [quot€] command properly, otherwise to others, u r a nuisance because they won't know who said what (all confused between two of u).

 

[reddevil0728]

Haha, look at my post count! I new lah..

Can’t you just use the quote button?

 

[henrylbh]

On which day can we start to buy SIA shares WITHOUT the Rights Shares and Rights MCBs?

Tomorrow you can buy SIA xr i.e. not entitled to rights. If today close $6, the theoretical price tomorrow would be $4.20.

 

[cherry6]

Can’t you just use the quote button?

Usually they do.

But they carelessly delete away the [quot€/] symbol or damage it, so HWZ computer program receives the wrong instructions.

 

[henrylbh]

But according to presentation, they will pay the coupon in lump sum if they decide to redeem early.

So really is heads u loose, tails u loose also.

So people who buy the bonds must find ways to 'sabo' SIA, put them in $ difficulties etc, so that Temasek is forced to buy out SIA, then will redeem the bonds according to the premature redemption protocol and pay the holders the 4-6-8% coupon in lump sum during redemption.

SIA must really come clean about Temasek takeover protocol for the MCB.

Too much opacity and very suspicious mechanism since it's really a lose lose situation for MCB holders unless there is a Temasek buyout to force the early redemption of MCB.

The rights MCB is more interesting than the rights share.

If SIA redeems it within 10 years, there is compound interest of 4% to 6% payable. If not redeemed, it will be converted into shares at $4.84 at end of 10th year. It's like a warrant, but with built-in interest.

 

[cherry6]

The rights MCB is more interesting than the rights share.

If SIA redeems it within 10 years, there is compound interest of 4% to 6% payable. If not redeemed, it will be converted into shares at $4.84 at end of 10th year. It's like a warrant with built-in interest.

Main issue is if SIA delisted. Only option is for Temasek holdings to pay for the MCB at the early redemption agreement, correct?

I.e. all accumulated interest (4-6% p.a.), paid together with principal in cash.

 

[vsvs24]

Tomorrow you can buy SIA xr i.e. not entitled to rights. If today close $6, the theoretical price tomorrow would be $4.20.

Today is 4 May. Ex date for rights is 6 May. So buy tomorrow 5 May still CR ie still entitled to rights.

 

[Sinkie]

Tomorrow you can buy SIA xr i.e. not entitled to rights. If today close $6, the theoretical price tomorrow would be $4.20.

I think I’m WFH for too long? Lost track that today is Tuesday

 

[reddevil0728]

Today is 4 May. Ex date for rights is 6 May. So buy tomorrow 5 May still CR ie still entitled to rights.

So on 6 May, you can start buying SIA shares WITHOUT Rights Shares and Rights MCBs right?

 

[Sinkie]

So on 6 May, you can start buying SIA shares WITHOUT Rights Shares and Rights MCBs right?

Let’s just call it they will be trading XR?

 

[reddevil0728]

Let’s just call it they will be trading XR?

not familiar with the terminology

 

[Sinkie]

The rights MCB is more interesting than the rights share.

If SIA redeems it within 10 years, there is compound interest of 4% to 6% payable. If not redeemed, it will be converted into shares at $4.84 at end of 10th year. It's like a warrant, but with built-in interest.

Mcb is assuming paying you $0.20 dividend each year

 

[henrylbh]

Today is 4 May. Ex date for rights is 6 May. So buy tomorrow 5 May still CR ie still entitled to rights.

Ha ha. Sorry I thought today is 5 May. XR is 6 May i.e. Wed.

 

[henrylbh]

Mcb is assuming paying you $0.20 dividend each year

What is that? MCB in not paying dividend. It's accumulating interest and compounding semi-annually until redemption or conversion to share at end of 10th year at $4.84 per share.

 

[arctician]

Think someone in this thread says XR is 6th May iirc.

i think XR and trading without XR 2 are different things.

usually a counter will trade Cum right first, then after will be Ex Right (6th may), then forms will be dispatched and you will be given option to take up your rights and apply for excess, few weeks later the rights will start trading in sgx, then after trading of right shares you be allocated final shares in CDP and thats when everything end and u can only trade mother shares (i think thats how you interpret trading without XR).

I didnt check out the offer docuement but should have a timeline somewhere

 

[vsvs24]

Not interested in the mcb can sell the rights

Why would anyone holding SIA mother share want to sell the rights for shares instead of subscribing to it ?

Just curious, can someone who does not hold SIA mother share just buy the rights and then subscribe to it ?

 

[Sinkie]

What is that? MCB in not paying dividend. It's accumulating interest and compounding semi-annually until redemption or conversion to share at end of 10th year at $4.84 per share.

Please note the word “assuming”.

It’s a 10 years mandatory conversion

 

[wanker88]

Why would anyone holding SIA mother share want to sell the rights for shares instead of subscribing to it ?

Just curious, can someone who does not hold SIA mother share just buy the rights and then subscribe to it ?

Someone who lost their job or don't have enough savings/cash to subscribe to the rights.

 

[vsvs24]

Someone who lost their job or don't have enough savings/cash to subscribe to the rights.

Wouldn't it be better to sell off the mother share ?

 

[arctician]

Why would anyone holding SIA mother share want to sell the rights for shares instead of subscribing to it ?

Just curious, can someone who does not hold SIA mother share just buy the rights and then subscribe to it ?

there can be many reasons, some may buy at a high and not willing to cut loss but at same time dont want to subscribe more, some may not have cash flow, others simply dont know - rights and MCB are relatively more complex and i am sure some retirees just buy and hold forever, so others can apply for excess rights at their expense.

for 2nd question yes you can, but right shares will be traded at market price and one still need pay $3 to buy over SIA shares after that. So your total cost wont be far off from the theoretical XR price of $4.5