Airport services operator SATS has finally revealed the long-awaited Right Offering [here]. Subscription Price is S$2.20 per Right (20% discount to last traded price of S$2.75). Allotment Ratio is 323 Rights for every 1,000 existing Shares held. SATS also gained the European Union's regulatory approval to proceed with the acquisition deal for WFS. I guess there is no turning back from here. I will likely subscribe for my portion, given it is an opportunity to acquire the shares cheaply. But I expect short-term pain for SATS (read:higher costs) over the next few years as it assimilate WFS into its existing corporate structure. I don't expect SATS to return to profitability and dole out sizeable dividends anytime soon....