The acquisition is expected to be accretive to unitholders, says KIT. On a pro-forma basis, it would have increased funds from operations by 3.6% to $298.4 million and distribution per unit (DPU) by 0.4% to 3.87 cents in FY2024, while net asset value (NAV) remains flat at 15.8 cents, notes Lim.
OCBC Investment Research (OIR) analyst Ada Lim has maintained her “buy” call on Keppel Infrastructure Trust (SGX:A7RU
) (KIT) while maintaining her fair value estimate of 51 cents.
Her report dated Nov 18 comes after KIT announced its proposed acquisition of a 50% equity interest in Keppel Marina East Desalination Plant (KMEDP) for an enterprise value of $323 million on the same day.
