March 15, 2019 / 3:30 AM / 2 months ago

Keppel Infrastructure Trust ups offer size on strong investor demand

March 15 (Reuters) - Keppel Infrastructure Trust said on Friday it had increased the size of its equity fund raising by about S$50 million ($36.91 million), citing strong demand from investors.

The business trust said it would target to raise about S$500.8 million in a placement and a renounceable underwritten preferential offering of new units, making it one of the biggest equity offerings on the Singapore Stock Exchange so far this year.

Keppel Infrastructure’s manager had announced raising of S$450 million in a regulatory filing on Thursday.

The trust offers investment in core infrastructure businesses, including waste treatment, water production, power production and transmission, piped gas production retailing and telecommunications.

Credit Suisse, DBS Bank, HSBC and United Overseas Bank are the joint lead managers, bookrunners and underwriters for the issue. ($1 = 1.3546 Singapore dollars) (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu)

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