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Singapore Exchange (SGX) announced today that K-Green Trust has commenced trading on its Mainboard, under the ticker symbol “K-Green”.
“We welcome K-Green Trust to SGX. This is also the first Green Infrastructure Trust listed on our exchange. It underlines our attractiveness as a listing venue for the fast growing sector of infrastructure assets in Asia,” said Mr Lawrence Wong, Executive Vice President and Head of Listings at SGX.
K-Green Trust is a business trust established and sponsored by Keppel Integrated Engineering Limited a member of the Keppel Group. Upon listing, K-Green Trust will own three assets, namely Senoko Waste to-Energy Plant, Tuas Waste-to-Energy Plant, and Ulu Pandan NEWater Plant.
K-Green Trust will not be raising any funds in its listing. To meet the shareholding spread requirement, approximately 51% of the K-Green Trust will be distributed to Keppel Corporation Ltd (KCL) shareholders, by way of a dividend in specie based on one K-Green Trust unit for every five KCL shares.
Mr Thomas Pang, CEO of Keppel Infrastructure Fund Management Pte Ltd, Trustee-Manager of K-Green Trust, said, “We are happy to have worked with SGX on the successful listing of K-Green Trust. With growing awareness in environmental issues worldwide, there is greater demand for ‘green’ infrastructure assets. K-Green Trust is well-placed to capture these opportunities in the global drive towards sustainable development, therefore offering investors opportunities to participate directly in this growing market segment.”
K-Green Trust is expected to have an estimated market capitalisation of S$730 million. This will bring the total number of Infrastructure Business Trusts on SGX to 3 with a combined market capitalisation of close to S$1.5 billion. It also brings the total number of listings to-date on SGX to
