In fairness, remember this is on the Singapore Stock Exchange not Australia. Personally I think investors (wrongly) think that Tiger will become another Ryanair.
I remember Australia's first LCC Compass. They were oversubscribed too. Guess what they went bankrupt.
You'd think people would learn. Those same Compass investors bought more stock (after losing everything in Compass) in Compass' second go largely known as Compass II. Guess what? They lost everything second time around too.
Tiger is incredibly arrogant and would probably put up with Australian losses just to save face. I have said it before and I will say it again Tiger belongs with just a Singapore base. Australia will just be a money pit for Tiger