Keystone Holdings expects this to improve Return on Equity and liquidity management.
ST Aerospace's joint venture company, Keystone Holdings Global, has reduced its share capital from $53m to $46m.
According to an announcement, the exercise has returned the $7m to shareholders as an excess to paid-up capital of Keystone Holdings' short-term needs. This is expected to improve Return on Equity (ROE) and liquidity management.
"Keystone is committed to increasing its aircraft fleet as it expands its leasing business, and will be well funded by way of equity from its shareholders and/or credit facilities that can be readily accessed to fund new aircraft purchases," the company said.
Keystone Holdings is a 50-50 joint venture company between ST Aerospace, held through its subsidiary ST Aerospace Resources Pte. Ltd, and SJ Aviation Capital Pte. Ltd. It holds subsidiaries across various geographies with a portfolio of aircraft which are currently on lease to global airlines.
Do you know more about this story? Contact us anonymously through this link.