Singapore's KS Energy lowers conversion price for 3% bonds to S$1.45

New York, Feb. 27 - KS Energy Ltd. said it will lower the conversion price for its S$107 million of 3% convertible bonds due 2015 to S$1.45 from S$1.60.

The action is being taken following a rights issue announced on Wednesday in which shareholders will be offered one rights share for every four existing shares at a price of S$0.41 per share.

Holders will benefit from the new conversion price effective March 5. Those who convert before that date will be able to participate in the rights issue.

KS Energy is a Singapore-based provider of services to the oil and gas industry.

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