Singapore’s first green infrastructure trust has been listed on the local bourse, underscoring the growing green infrastructure asset sector in the region.
The Republic’s stock exchange, the Singapore Exchange (SGX) said on Tuesday that K-Green Trust has commenced trading on its Mainboard, under the ticker symbol “K-Green”.
SGX executive vice president and head of listings Lawrence Wong said: “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.”
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 per cent of the K-Green Trust will be distributed to Keppel Corporation Ltd (KCL) shareholders, by way of a dividend in specie based on one KGreen 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 three 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 762.
