| Latest Forum Topics / Kep Infra Tr Last:0.52 -- |
 Post Reply
|
|
KIT
|
|||||
|
Joelton
Supreme |
19-Apr-2023 12:02
|
||||
|
x 0
x 0 Alert Admin |
Keppel Infrastructure Trust to launch equity funding exercise to raise at least S$240 million
THE manager of Keppel Infrastructure Trust : A7RU 0% (KIT) announced on Tuesday (Apr 18) plans to launch an equity funding exercise to raise gross proceeds of at least S$240 million.
This comprises a private placement at a price between S$0.464 and S$0.477 per placement unit and a non-renounceable preferential offering at a price between S$0.464 and S$0.467 per new unit.
Between 262,055,000 and 269,397,000 new units will be issued to institutional and other investors to raise gross proceeds of approximately S$125 million, while up to 249,612,694 new units will be offered to entitled unitholders to raise around S$115 million.
The total number of placement units and preferential offering units will not exceed 758,763,838 new units, representing approximately 15.2 per cent of KIT units in issue.
As at Tuesday, Keppel Infrastructure Holdings (KIHPL) has a direct interest in 909,048,658 units, translating to around 18.21 per cent of the units in issue.
The manager noted that it had an irrevocable undertaking with KIHPL to subscribe and pay for placement units to maintain its unit holding percentage and provisional allotments of preferential offering units.
Citigroup Global Markets Singapore, DBS, HSBC, Singapore Branch, OCBC and UOB have been appointed as the joint lead managers, bookrunners and underwriters for the exercise.
The placement issue price and preferential offering price will be determined by the joint lead managers, bookrunners and underwriters following a book-building process.
KIT&rsquo s manager previously announced its acquisitions of the Wind Fund, Eco Management Korea and Borkum Riffgrund 2 Investor last year at a total cost of approximately S$721 million.
This was paid for by a combination of internal funds and external borrowings, including bridge facilities, of approximately S$579.5 million.
Assuming that gross proceeds of S$240 million are raised from the equity fundraising, the manager intends to use approximately S$233.5 million for the partial repayment of bridge facilities and around S$6.5 million for payment of the fees and expenses incurred from the exercise.
The placement is expected to launch on Apr 18 and close on Apr 19 while the preferential offering will begin on May 2 and close on May 10 at 5.30 pm.
|
||||
| Useful To Me Not Useful To Me | |||||
|
ehclim
Elite |
19-Apr-2023 11:54
|
||||
|
x 0
x 0 Alert Admin |
Indeed, but is it sustainable going forward. The devil is in the details. Do your own due diligence.
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
ehclim
Elite |
19-Apr-2023 11:50
|
||||
|
x 0
x 0 Alert Admin |
Keppel Corporation Limited (Keppel Corporation or together with its subsidiary, the Group) and Keppel Infrastructure Fund Management Pte Ltd (KIFM), the Trustee-Manager of Keppel Infrastructure Trust (KIT), are pleased to announce that they are jointly investing &euro 305.0 million (approximately S$445.3 million[2]) to acquire a 50.01%[3] stake in a special purpose vehicle (SPV) that holds 50% of Borkum Riffgrund 2 (BKR2), an offshore wind farm in Germany. The SPV is currently wholly owned by Gulf International Holding Pte. Ltd., a subsidiary of Gulf Energy Development Public Company Limited (Gulf), one of Thailand&rsquo s largest private power producers. | ||||
| Useful To Me Not Useful To Me | |||||
|
ehclim
Elite |
19-Apr-2023 11:49
|
||||
|
x 0
x 0 Alert Admin |
BKR2 operates under the German EEG 2014 market premium mechanism, which has an attractive Feed-in-Tariff and guaranteed floor price till 2038, providing strong cash flow visibility for the project. This arrangement de-risks the asset. The project also holds a 20-year power purchase agreement and a 20-year operations and maintenance agreement (OMA), until 2038, with Ø rsted. The long-term OMA has a largely fixed operational cost base which provides significant cost certainty and cash flow visibility. As the 50% shareholder of BKR2, Ø rsted will continue to operate BKR2 with a strong alignment of interest.
|
||||
| Useful To Me Not Useful To Me | |||||
|
investshare
Supreme |
19-Apr-2023 08:31
|
||||
|
x 0
x 0 Alert Admin |
Did KIT disclose any agreement with Germany government? Example when end of subsidy? End of electricity price or purchase obligation? | ||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
pikachu
Master |
19-Apr-2023 06:40
Yells: "Holy Cow!" |
||||
|
x 0
x 0 Alert Admin |
KIT is good div play stock. | ||||
| Useful To Me Not Useful To Me | |||||
|
ehclim
Elite |
18-Apr-2023 23:14
|
||||
|
x 0
x 0 Alert Admin |
Good article. I always suspecting that too. Todate, green energy can never be cheap that is why there need carbon credit to compensate for the high cost. Currently, the carbon credits are traded at very price in EU. Correct me if I am wrong.
|
||||
| Useful To Me Not Useful To Me | |||||
|
investshare
Supreme |
18-Apr-2023 21:43
|
||||
|
x 0
x 0 Alert Admin |
https://stopthesethings.com/2017/11/14/kaput-german-wind-farms-set-for-dismantling-as-subsidies-dry-up/ Claims that wind turbines run on the smell of an oily rag and last for 25 years are a proven nonsense. What wind worshippers tend to forget is that these things have a useful (that is to say ?economic?) lifespan of around 12 years. Subsidies are what built them. Subsidies are what run them. So, when the subsidies run out, it isn?t long before the only remaining force at work is rust. No country went harder or faster than Germany, when it came to spearing wind turbines and splaying solar panels as far as the eye can see. The cost for German households and businesses, in terms of rocketing power prices, has been colossal and the effect on its grid is both costly and chaotic (a point picked up in the second piece in today?s post). But first, here?s what happens when the subsidy plug gets pulled. German Wind Farms to be Terminated as Subsidies Run Out GWPF DPA/ZDF 31 October 2017 Wind power is the most important component of Germany?s green energy transition. The end of subsides for older turbines, however, threatens countless wind farms. By 2023, more than a quarter of Germany?s onshore wind farms may be gone. Several thousand wind turbines in Germany are likely to be closed down in the next decade because they will no longer receive any subsidies. ?If electricity prices do not rise over the next decade, only a few plants will survive on the market without subsidies,? says an analysis by the Berlin-based consulting firm Energy Brainpool. This assessment is shared by most professionals. ?In any case, by 2020, the shutdown of existing facilities is to be expected to a greater or lesser extent,? an article by several economists of the Helmholtz Center for Environmental Research in Leipzig concludes. |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
vicloo
Supreme |
18-Apr-2023 18:51
|
||||
|
x 0
x 0 Alert Admin |
Term and condition of the sales of wind farm likely have mentioned each wind mill will need to be tested to meet specification....
Just like you buy a second hand pc, need to test if it works b4 you pay right... If it really doesnt work, repair cost to the windmill will be used to offset the purchase price... I think keppel chair person is not familiar with the S&P terms... Stunned when ask.... Haha. These are very common sense condition... Unless is a bankrupt auction assets... Cheap cheap then no conditions at all.
|
||||
| Useful To Me Not Useful To Me | |||||
|
investshare
Supreme |
18-Apr-2023 16:58
|
||||
|
x 0
x 0 Alert Admin |
Wah you raised so many red flags, later one forumer may come out threaten to sue you.
|
||||
| Useful To Me Not Useful To Me | |||||
|
rledchg11
Member |
18-Apr-2023 16:37
|
||||
|
x 0
x 0 Alert Admin |
seems like a lot to talk about.... :))) lets try jump in tomorrow..
|
||||
| Useful To Me Not Useful To Me | |||||
|
vicloo
Supreme |
18-Apr-2023 16:18
|
||||
|
x 0
x 0 Alert Admin |
Anyone know. Is KIT on trading halt?? No transactions today at all. | ||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
tonytony
Veteran |
18-Apr-2023 12:54
|
||||
|
x 0
x 0 Alert Admin |
Will join you for sure.
|
||||
| Useful To Me Not Useful To Me | |||||
|
ehclim
Elite |
18-Apr-2023 12:47
|
||||
|
x 0
x 0 Alert Admin |
Greater Fool Theory Investing
Basically, the idea is that you can make money by speculating on future price increases because there' s always a greater fool willing to pay more than what you paid, even if you paid too much based on the investment' s intrinsic value.
|
||||
| Useful To Me Not Useful To Me | |||||
|
ehclim
Elite |
18-Apr-2023 12:40
|
||||
|
x 0
x 0 Alert Admin |
Good strategy. Join in the Greatest Fool Theory game. Good luck to you.
|
||||
| Useful To Me Not Useful To Me | |||||
|
rledchg11
Member |
18-Apr-2023 12:38
|
||||
|
x 0
x 0 Alert Admin |
can be a good place to make biz mistakes... wrong? ooooppsss.... find some good " ideas" ..... place.... more exclusives... privates.. :)) anyway... noting much unitholder can do... except play along.. Note : I will jump in once they open the trade :)) join the play along :)
|
||||
| Useful To Me Not Useful To Me | |||||
|
ehclim
Elite |
18-Apr-2023 12:19
|
||||
|
x 0
x 0 Alert Admin |
Many questions were raised by handful of unitholders including a German guy who was asked or making an interesting comment about recent acquired windfarm, BKR2 in Germany. He commented most off shore windmills were not working. The comment stunned the " Manager" . Also, another unitholder commented that from the AR22 report on page 85 reqarding the P& L statement, from the past couple of years FY21 and FY22, earnings per unit were 0.66 cent and 0.02 cent respectively. Please note that it is less than 1 cent earnings per unit for 2 consecutive years. How they fund their their average 3.8 cents annual DPU? Also, the manager was unable to annualize the BKR2 1Q23 profit of about $20m to $80m for full FY23 profit. The reason they gave was unable to predict the MET conditions at the off-shore. I believe whoever invest in the off-shore windfarm must have done their due diligence including the 30 years of historical MET data of the off-shore windfarm site condition because invest in offshore windfarm involved in huge initial investment including the hardwares like mills and accessories and expensive installation costs. They either not able to give positive answer nor no answer at all.
|
||||
| Useful To Me Not Useful To Me | |||||
|
paul1688
Veteran |
18-Apr-2023 11:24
|
||||
|
x 0
x 0 Alert Admin |
Simply put, if we use the lowest rights price of 46.4 cents, then TERP should be 51.25 cents. I do expect knee jerk reaction from the Ex Advance Distribution of 1.24 cents as well so in all expectation a resumed trading price of exactly 50 cents would be the new theoretical value. If price resumes well below 50 cents, for me, this is worth accumulating over and above rights allotment.
Disclaimer : Vested. This is NOT investment advocate. Pls DYODD. Subscribe or buy only if one understands an Infrastructure Trust model and believes in KIT portfolio strategy.
|
||||
| Useful To Me Not Useful To Me | |||||
|
EricNat
Member |
18-Apr-2023 10:28
|
||||
|
x 0
x 0 Alert Admin |
Yesterday trading price is at 0.515. Hence, issue price will be lower. hopefully the price will not go below 0.50. | ||||
| Useful To Me Not Useful To Me | |||||
|
actan99
Master |
18-Apr-2023 10:25
|
||||
|
x 0
x 0 Alert Admin |
Tot the issue price is 0.518 cents ? Hmm whats happening ? When resume trading ah ? 19th april ?
|
||||
| Useful To Me Not Useful To Me | |||||