$SATS (S58.SG)$ Question on the rights issue: Temasek and th...
$SATS(S58.SG$ Question on the rights issue: Temasek and the underwriting banks do NOT have to own underlying SATs shares to buy at $2.20 right? They just buy it straight at $2.20 for whatever public doesn't want pick up? Or do they still have to abide by 232 for every 1000?
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IvanJeanne : Temasek pays for their equivalent share of rights based on their almost 40% ownership. Whatever left over not raised from private shareholders is to be loaned from banks. Not sure the if overallotment is given to Temasek. But eligible shareholders can request for extra rights subject to availability and allotment.