Of the $273 million in equity from the capital optimisation, 48% or $131 million was used to pay a special distribution to unitholders, and $142 million was used to partially fund the FY2022 acquisitions. Interestingly, the growth in distributable income for the nine months to September 30 was $26.97 million or 14.7 %y-o-y, compared with the one-time boost of $131 million from the capital optimisation.
On Nov 2, Keppel Infrastructure Trust (SGX:A7RU
) (KIT) announced capital optimisation of $273 million from the growth of Ixom and City Energy during its 3QFY2023 results for the three months to Sept 30. Ixom has a September year end. The capital optimisation came on the back of better performances for Ixom and City Energy.
Since acquiring Ixom in 2019, its Ebitda has grown by 52%, KIT points out in its presentation. Since being rebranded in 2021, City Energy’s Ebitda is up by 30%.
