As of the end of today,
The price of Kreit is as follows:
Kreit Rights $0.06
The cost of converting a right to the stock is $0.93
Hence if you buy the rights and convert them to the stock, the actual price that you will be buying is $0.93 + $0.06 = $0.99 which is 2 cents cheaper than the current traded price.
Hence if you intend to buy this stock for the long term, it is cheaper to buy the rights instead of the stock, if you are going to buy into this stock. In addition, the commission charge that you will be paying would be lesser also because of the lower overall transaction amount.
However if you are going to trade this rights, I suggest you stay away from it. Because it acts similar to a warrant, giving you high leverage but this has a very short lifespan, expiring on 9 Nov.
This works in genera for stocks where they have rights that are facing such scenarios where the conversion price plus the nil paid rights (rights traded on the market before they are converted to stocks) are actually cheaper than the mother stock itself. Thus giving you an opportunity to buy the mother stock at a cheaper price.