KrisEnergy launches capital restructuring exercise; Keppel in talks to support plan
It is planning a preferential offering to raise up to S$140m to help it ride out contraction in oil and gas sector
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Singapore
KEPPEL Corp is in talks to support KrisEnergy in its proposed preferential offering which would give the financially-strapped upstream oil and gas firm a lifeline as it announces a fourth straight quarter of losses.
Shares in both companies rose on Thursday, with KrisEnergy's stock gaining 1.4 per cent to close at S$0.147, while Keppel's stock increased 0.4 per cent to S$5.27.
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