Strong interest in Keppel's K-Green Trust

SINGAPORE - Shares of K-Green Trust made a strong debut on the Singapore stock market on Tuesday, rising as high as $1.33 (US$0.96) with over eight million shares traded.
Around 0243 GMT, K-Green was traded at $1.22, 5.2 per cent higher than its implied price of $1.16.

'Investors are keen on buying the stock mostly because of its good dividend yield and long-term prospects for the green business,' said a local trader.

K-Green, which owns waste-to-energy and water treatment plants, is 49 per cent-owned by rigbuilding, engineering and property conglomerate Keppel Corp.

It made its Singapore market debut after its parent distributed 51 per cent of K-Green shares to existing Keppel shareholders. -- REUTERS