21 Feb '11, 3pm

Ryanasia reduces stake in Tiger Airways

SINGAPORE : Tiger Airways has confirmed that Ryanasia has reduced its stake in the low-cost carrier and is no longer a substantial shareholder. In a filing to the stock exchange after the market closed on Monday, Tiger said Ryanasia sold off some 18.6 million shares, or about 3.4 per cent of Tiger's total number of shares. But the statement did not say how much the shares were sold for. Ryanasia was one of Tiger's cornerstone investors. It now holds a stake of just 1.99 per cent in the carrier. In trade on Monday, shares of Tiger Airways declined by some 4.4 per cent to S$1.51.

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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