Singapore budget carrier Tiger Airways (TAHL.SI) is looking to raise between US$100 million ($120.6 million) to US$150 million through a rights issue, which will be backed by its two biggest shareholders Temasek Holdings (TEM.UL) and Singapore Airlines (SIAL.SI), sources close to the deal said.
Temasek and Singapore Airlines declined to comment.
Shares of Tiger Airways were suspended pending an announcement.
“It is a rights issue,” said a source with knowledge of teh deal.
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