KrisEnergy to raise S$169.5m from 42-for-100 rights issue
Proposed issue of 440.1m new shares will be at 38.5 cents per rights share
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Singapore
KRISENERGY on Monday announced a S$169.5 million rights issue to support its strategy of growing oil and gas production in its existing fields, as well as near-term development projects.
The announcement comes after the upstream oil and gas company received on the same day an in-principle approval from the Singapore Exchange for its rights issue, which is expected to generate net proceeds of approximately S$165.6 million through the issuance of 440,144,838 new shares on the basis of 42 rights shares for every 100 existing shares.
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