Post Reply
101-120 of 1501
It seems to me like PCCS has little pricing effects during XA date this week. Or perhaps ZERO effect due to the difficulty in forecasting its pricing like a warrant.
The day before XA, it closed at $0.70. The theoretical open during XA should have been $0.662, but it opened at $0.67. Looking good huh.
I've decided to opt for RIGHTS AND EXCESS RIGHTS (the last time they did give me excess).
Wish me good luck.
PCCS, to buy or not to buy.
Suppose the VWAP is 70 cents, so the conversion price is set at 80.5 cents. If you have 4000 Tiger shares, you can buy 1000 Tiger PCCS at $1070. After you do that, for 5 years you get 2% x 1070 = $21.40 distributions per year, plus the equivalent of any dividends that are paid to ordinary shares, as if you were holding ordinary shares. (Note that Tiger has yet to pay any dividend.) After the 5 years are up, Tiger does not give you any more distributions. Tiger can choose to redeem the PCCS earliest at 7 years after the issue date.
The following assumes conversion price 80.5c and no future changes to it:
Scenario 1: Tiger shares are at $1 after 5 years and you convert. You will get 1070/0.805 = 1329 ordinary shares, for which you can sell at $1 each to get $1329. Your return is $1329 + $21.40x5 - $1070 = $366 over 5 years annualized it is about 6%.
Scenario 2: Tiger shares are at 90 cents after 7 years and you convert. Your return is $(0.90x1329) + $21.40x5 - $1070 = $233.10 over 7 years annualized 3%.
Scenario 3: This is the basic case. Tiger shares never reach 80.5 cents so you never convert. You get all your 5 ordinary distributions on time, no special distributions, and Tiger redeems after 7 years. Your return is $107 over 7 years annualized 1.4%.
Scenario 4: Tiger shares never reach 80.5 cents again so you never convert. Due to financial difficulties Tiger has chosen to defer all its 5 ordinary PCCS distributions. Needless to say there are also no special PCCS distributions (i.e. dividends payable to ordinary shareholders). After 10 years it finds the money to pay you your distributions and put the PCCS out of its misery. Then your return is $21.40x5 = $107 10 years later annualized 0.96%.
anyone going tomorrow?
i dunno whether to take PCCS anot.
i dunno whether to take PCCS anot.
Thanks for the insights on the PCCS.
It really seems that the underlying (stock) pricing wont be affected by PCCS.
Hope we are right about that. Damn confusing. I dont recall any other counter offering pccs at all.
Bopanha ( Date: 18-Mar-2013 15:59) Posted:
|
Ya man, your nick really makes me laugh non stop for few minutes! Hahaha.
SJ-Stomp ( Date: 18-Mar-2013 16:31) Posted:
|
I first time meet you!Your user name "No Class" at all. Good luck!!!
buaypangsai ( Date: 17-Mar-2013 12:34) Posted:
|
@buaypangsai, you can subscribe to the convertibles ( sort of bonds), as well as the rights. Entirely up to you. But for the convertibles, they have no effect on your holdings. That means whether you buy or not, your share pricing is not affected, if not wrong, standing corrected.
Don't worry, I still have not received the rights issue. You have to wait until 22nd March 2013 after the meeting announcement.
News - On 18th Mar, Indonesia Lion Air is buying 200 Airbus aircrafts and on 11th Mar, Malaysia AirAsia agreed to buy 49% Zest Airways Inc in Philippines.
So it will translate Tiger Airways' share price not heading anywhere, as it is going to face a tough competition among his rivals LCC airlines.
Does anyone have news about ACCC in Australia gives a reply on the buying 60% stake of Tiger Australia to Virgin Australia?
deedee90 ( Date: 18-Mar-2013 09:07) Posted:
|
Hi guys, just wanna ask if anyone received the letter for the rights issue? I've not gotten it yet and I'm worried that I might miss it and expire :s
why do you say that the latter is not applicable for small investors? I tot PCCS is applicable for all shareholders?
Bopanha ( Date: 05-Mar-2013 09:14) Posted:
|
Recently reports showed there is increases in passengers taking Tiger Airways. No doubt it is good for TA, but the airfare is low as compared with other LCC. This will lower their profit. Can anyone would like to share with me why TA is selling the ticket at a low price?
deadline can always be extended even market does not like it...
On 8th March, ACCC is asking Virgin Australia for more information regarding its proposed acquisition of 60% of Tiger Airways' shares, when the deadline is 14th March. Why now start asking?
Does it have any relation to Tiger Airways proposal of rights issue and convertible bonds?
Lol.. Tiger looks like is changing into an Alsatian dog or half of an Alsatian. (69 or lakow puah). Hahaha!!!
Never believe in DBSV Anal lysis......jia latz...
No jialat lah. I will subscribe fully for the rights and probably half of the convertible securities because the latter is not applicable for small investors like us but good for investment and financial firms. If you don't like the rights, sell off the entitlement which probably will give you some money back.
pcxiao2008 ( Date: 05-Mar-2013 09:07) Posted:
|
so this stock gone case with the placement of right issues? aiyo bought it like a year plus ago at 80c...jialat lor
Sorry for the text all jumble up... please refer to SGX for the announcement.
Tiger Airways Holdings Limited (the
Pursuant to the Rights Issue, up to 164,306,044
Pursuant to the Preferential Offering, up to S$220,000,000 in aggregate principal amount of 2.0 per cent. perpetual convertible capital securities (the
The Issue Price of the Rights Shares represents a discount of approximately 34 per cent. to the last traded price of S$0.715 per Share on 4 March 2013, being the date of this announcement, and a discount of approximately 30 per cent. to the theoretical ex-rights price
The issue price of the Convertible Securities is 100 per cent. of the principal amount of the Convertible Securities (the
The conversion price at which each Convertible Security can be converted to Conversion Shares (the
The Conversion Price will be fixed at a premium of 15.0 per cent. above the volume weighted average price (
News about Tiger Airways Feb,2013: SINGAPORE Tiger Airways will be increasing its flight frequency to nine cities starting from May 2013. Concurrently, it will also offer pay-to-go, return-for-free flights to 28 destinations.
The frequency increases will provide greater flexibility and convenience to travellers when planning for their leisure or business trips.
From May, Tiger Airways will operate 45 flights weekly to Bangkok 21 flights to Ho Chi Minh City 14 flights to Macau and seven flights to Bangalore.
Commencing June, it will operate 14 flights weekly to Penang, 11 flights to Taipei and 10 flights to Phnom Penh and from July onwards, 11 flights to Perth and five flights to Kochi. The travel period for the promotional fares varies with each route. Fares do not include taxes and other charges. The booking period for this current promotion starts from 19 February to 21 February 2013.