22nd Feb 2023: SATS, a Singapore-based ground handling and in-flight catering service provider, plans to raise S$798.8 million by issuing 363.1 million new shares at S$2.20 apiece via a rights issue. The new shares will represent 32% of the existing share capital of the company. The rights issue will be on the basis of 323 rights shares for every 1,000 shares held by shareholders on the record date (2nd Mar 2023).
According to a statement by the company, the net proceeds from the rights issue will be used to partially fund the WFS acquisition.
Reference:
The Business Times: SATS to issue 363.1 million new shares at S$2.20 apiece via S$798.8m rights issue
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A subsequent update (28th Feb 2023) on SATS rights ex date / trading dates and subscription
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