Logo from KIT

Keppel Infrastructure Trust seeks to raise $240m in equity funding

The company will use 97.3% of the proceeds to partially pay bridge facilities.

Keppel Infrastructure Trust (KIT) will launch an equity fundraising to raise gross proceeds of not less than $240.0m.

In a bourse filing, KIT said it will conduct the equity funding by way of a private placement and preferential offering.

KIT will issue new units between 262,055,000 and 269,397,000 under private placement. The price of each placement unit will range between $0.464 and $0.477. The trust expects to raise $125m from the private placement.

For its non-renounceable preferential offering, KIT will issue 249,612,694 new units to be priced between $0.464 and $0.467 each. The trust expects to raise $115.0m from the preferential offering.

“The total number of placement units and preferential offering units will not exceed 758,763,838 New Units, representing approximately 15.2% of units in KIT in issue as at the date of this announcement,” KIT said in a bourse filing on 18 April.

KIT will use 97.3% of the gross proceeds from the equity funding exercise or $233.5m to partially repay its bridge facilities.

The trust will use the remaining 2.7% or $6.5m to pay for the fees and expenses incurred by it in connection with the equity fundraising.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!