KIT Plans to Raise $240 Million Through Equity Fundraising: An Overview

source: SGX announcement

For existing shareholders, 5 for 100 held

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Indicative Time Table

souce: SGX announcement

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KIT announced equity fund raising morning. Details are as follows:

Total: S$125mln (private placement) + $115mln (non-renounceable preferential offering) = S$240mln

Placement offering size: S$125.0m
Offer price range: S$0.464 - S$0.477 representing:
•7.4% - 9.9% discount to last close
•7.4% - 9.9% discount to VWAP
•5.1% - 7.7% discount to adjusted VWAP

Preferential Offering size: S$115.0mln
Offer price range: S$0.464 – S$0.467 representing:
•9.3% and 9.9% discount to VWAP
•7.1% and 7.7% to Adjusted VWAP

Forecast FY23 yield: ~8.4% - 8.6%
Use of Proceeds: Partial repayment of the bridge facilities which were used to initially fund the acquisition of 3 assets in 2H2022
Sponsor: Sponsor undertakes to subscribe for its 18.21% prorata share of the placement

Important Dates:
Launch of Placement: 18th April 23
First date of ex-trading of Placement Units: 25th April 23
Expected date of issue of Placement Units: 27th April 23
Expected date of issue of Preferential Units: 18th May 23

~ source: Lim and Tan Telegram