K-Green named 762nd member of SGX

A business trust company established and sponsored by Keppel Integrated Engineering becomes the first Green Infrastructure Trust to be listed on the SGX.

K-Green Trust will own three assets, namely Senoko Waster to-Energy Plan, Tuas Waste-to-Energy Plant, and Ulu Pandan NEWater Plant, a Singapore Exchange (SGX) report said on Tuesday.

K-Green will start trading under the ticker symbol “K-Green.”

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.

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.

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