Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.
Find out more at btsub.sg/promo
THE following stocks had material developments which could affect trading on Wednesday.
Keppel Infrastructure Trust (KIT) and CitySpring Infrastructure Trust (CIT) announced they were merging to potentially form Singapore's largest infrastructure-focused business trust and its second-largest business trust with assets of over S$4 billion. The trust will also raise equity to acquire a 51 per cent stake in Keppel Merlimau Cogen, which owns a gas turbine power generation facility on Jurong Island.
Keppel Corporation will become the largest unitholder with about 22.9 per cent, while Temasek Holdings will become the second largest unitholder at about 19.97 per cent of the combined trust.
Before the deal is completed, existing CIT unitholders will get a one-time distribution of S$30 million.
The combined trust will also make a one-time S$30 million distribution to its expanded base of unitholders after the completion of the deal.
KIT last traded at S$1.045. CIT last traded at S$0.515. Trading will resume on Wednesday.
Separately, Regal International Group, formerly known as Hisaka Holdings, resumes trading on Wednesday after the completion of a reverse takeover and compliance placement. The automation solutions provider is now a Malaysian property firm.