China Fishery (B0Z.SG) +3.8% at $1.90 as backing by Carlyle Group offsets earnings dilution risk stemming from placement of new shares, warrants to private equity giant, which will end up as second largest shareholder with 13.62% stake, says Dow Jones.

Still, thin volume indicates interest subdued, although not surprising amid current broad market weakness. Current month high of $1.96 expected as resistance.

“On top of the additional capital, Carlyle’s extensive global networks could provide more business opportunities for China Fishery,” says DMG, which has Buy call but cuts target to $2.10 from $2.40 to reflect dilution.

Fishing group plans to use US$190 million ($267 million) proceeds for investments, boosting operational efficiency. Shares of parent Pacific Andes Resources Development (P11.SG) flat at $0.295.