Looks like Greek to me

KS Energy Services fell on earnings dilution concerns following company's move to raise up to $174 m through rights issue. Investors can subscribe for 2 rights shares at $1.60 each for every 5 shares already held. Up to 109.4 m shares will be issued, raising funds for company to repay bank loans, finance equipment purchase. Firm shouldn't have difficulty getting demand as existing shareholders Pacific One Energy and its concerted parties have pledged to subscribe for shares, mopping up 88% of maximum issue. While exercise will strengthen group's balance sheet, investors will likely be wary of dilution impact.

as expected, now dropping 7% to 1.76... close to their right price of 1.60.. that's exactly 10% from 1.60... don't be surprised the price will lingering around 1.60 until the whole right issue subscription done.... would expect the price movement only after that... cheers...

2 for 5 rights issue at S$1.60 per share to raise up to S$174 million

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their rights shares entitlements amounting to 29.6 million sharesPacific One Energy and concerted parties undertake to fully subscribe for

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additional 54.8 million rights sharesPacific One Energy undertakes to make excess applications for up to an

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sharesKim Eng Securities undertakes to underwrite up to 11.7 million rights

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certain conditionsWhitewash waiver approved by the Securities Industry Council subject to