Keppel Infrastructure Trust - OCBC Investment 2024-09-05: Overhang Of Equity Fund Raising Lifted

• Keppel Infrastructure Trust announced on 28 Aug 2024 the results of its private placement exercise. 456.6m new shares were issued at S$0.438 per unit, which represents a 6% discount to its volume weighted average price (VWAP) of S$0.4662 per unit (on 26 Aug 2024). This is the highest end of the issue price range of S$0.426 to S$0.438 per unit. Accordingly, the total gross proceeds raised is ~S$200m.

Stub distribution to be paid on 18 Sep 2024

• - Read this at SGinvestors.io -
• The placement units were listed on 5 Sep 2024.
• See Keppel Infrastructure Trust's distribution dates – Stub distribution of 0.70 Singapore cents per unit for the period between 1 Jul 2024 to 4 Sep 2024 declared and payable to existing unitholders on 18 Sep 2024.

Combination of acquisition, equity fund raising (EFR) exercise, perpetual security issuance expected to be accretive on a pro forma basis

• - Read this at SGinvestors.io -
• 2.7% (S$5.4m) will be used to pay for fees and expenses incurred in connection with the placement, while
• the remaining 0.7% (S$1.4m) will be used to repay existing debt.

Revise fair value estimate to S$0.51

• Read more at SGinvestors.io.

Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Read also OCBC's most recent report:
2025-10-30 Keppel Infrastructure Trust - A Mixed Report Card With DI Growth Boosted By Divestments Gain.

Previous report by OCBC:
2025-07-30 Keppel Infrastructure Trust - Stable Overall Results Pending Foray Into Digital Infrastructure.

Price targets by other brokers at Keppel Infra Trust Target Prices.

Listing of research reports at Keppel Infra Trust Analyst Reports.

Relevant links:
Keppel Infra Trust Share Price History,
Keppel Infra Trust Announcements,
Keppel Infra Trust Dividend Payout Dates & Corporate Actions,
Keppel Infra Trust News