Singapore Airlines stock sales halted on word of potential investment
Sale of Singapore Airlines stock was halted in the Singapore Exchange Tuesday after the airline said it was 'in an advanced stage of discussions for a potential investment.'
'The investment is not expected to constitute a transaction that requires disclosure under Rule 1008 of the SGX Listing Manual,' the company said in a release Tuesday. 'However, at this stage, the agreement has not been finalized and is subject to official approval. We expect to provide an update to investors as soon as possible on the outcome of such discussions, and will make an appropriate announcement in the event that we enter into any definitive agreement as regards the investment. In the meantime, shareholders or potential shareholders of the company are asked to note this position, and keep it in mind in respect of any trading of Singapore Airlines shares prior to the update aforementioned.'