Keppel DC REIT set to raise S$513m in IPO
SINGAPORE — Keppel Telecommunications & Transportation today (Dec 5) launched the initial public offering of a real estate investment trust for its data centres that will raise S$513 million in the second-biggest listing in Singapore this year.
SINGAPORE — Keppel Telecommunications & Transportation today (Dec 5) launched the initial public offering of a real estate investment trust for its data centres that will raise S$513 million in the second-biggest listing in Singapore this year.
Keppel DC REIT’s offering of 261.1 million units was priced at the top end of the range at 93 cents per unit. Cornerstone investors such as Fortress Capital and Eastspring Investments will separately buy S$270 million worth of shares. The expected distribution yield is 6.8 per cent next year and 7.1 per cent in 2016.
The successful pricing comes after Universal Terminal postponed its up to S$1 billion business trust IPO of oil storage terminals earlier this week due to uncertain market conditions, IFR reported.
Keppel T&T, a unit of conglomerate Keppel Corp, has data centres in Asia and Europe. The listing will be the second-biggest in Singapore this year after Accordia Golf Trust’s S$758.6 million IPO in July.
The IPO will close at 12pm next Wednesday. AGENCIES
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