Upstream oil and gas company KrisEnergy Ltd Monday said it was planning a S$169.5 million rights issue, and would use the proceeds for capital expenditure, increase near-term production, revenue and cash flow.
The company, in which Keppel Corp has a significant stake, will issue 440.1 million new shares at 38.5 cents each, on the basis of 42 rights share for every 100 existing shares. This represents a 13.5 per cent discount to the closing price of 44.5 cents per share as at June 12 2015.
