In today’s briefing:
- Keppel Infrastructure Trust Placement – Very Well Flagged, Should Expect Some Short Covering
- YFO Goes Hard for Board Spill – Independents AND Executives
- 10 in 10 with H2G Green – The Pivot to Green Hydrogen
Keppel Infrastructure Trust Placement – Very Well Flagged, Should Expect Some Short Covering
- Keppel Infrastructure Trust (KIT SP) is looking to raise S$125m (US$96m) in its primary placement.
- The proceeds in the deal will be used to partially pay down its bridge loan, the latter used in a series of acquisitions made by the REIT in 2022.
- Including the preferential offering, the deal would be a large one to digest at 9.4% of the REIT’s current mcap and 89.3 days of three month ADV.
YFO Goes Hard for Board Spill – Independents AND Executives
- At end-March, Toyo Construction (1890 JP) started playing hardball against YFO. They rejected the EGM call; they sent a letter to METI crying “FEFTA Breach!”, and raised the div BIGLY.
- The new div at ¥63/share was meant to get the share price over ¥1,000/share so the YFO bid at that price would not be meaningful. So far, no luck.
- But YFO, which had threatened to propose a new slate, came out today with a list of nine, including two who would be executive directors. 👀👀
10 in 10 with H2G Green – The Pivot to Green Hydrogen
10 in 10 with H2G Green – The Pivot to Green Hydrogen
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