SINGAPORE -(Dow Jones)- Singapore Airlines Ltd. Wednesday said it invested S$283 million in cash to build the equity capital of its proposed new low-cost unit.
Singapore Airlines has subscribed to 282,999,999 new shares of New Aviation Private Ltd. at an issue price of S$1 per share, the company said in a statement to Singapore Exchange.
After the issue of the new shares, New Aviation will remain a wholly-owned subsidiary of Singapore Airlines, according to the statement.
Source: http://www.foxbusiness.com
No comments:
Post a Comment