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135m new Keppel DC Reit units start trading on Sept 25

SOME 135 million new units in Keppel DC Reit (real estate investment trust) will begin trading on the Singapore bourse as at 9am on Wednesday, as part of the Reit's S$478.2 million equity fundraising to partially pay for its proposed acquisition of two data centres.

The Reit's manager previously noted that it has raised this amount through a private placement of 135 million units at an issue price of S$1.744 per unit, and a preferential offering of about 142 million units at an issue price of S$1.71.

With the issuance of the new units from the private placement, the total number of Keppel DC Reit units stand at about 1.5 billion as at Sept 25, the manager said. This means that the new units issued on Wednesday will represent about 9 per cent of the Reit's enlarged share capital. 

The new units will rank pari passu with the units in issue on Sept 24, including the right to any distributions which may be paid from Sept 25 onwards, but will not be entitled to participate in the distribution prior to their issue, including the advanced distribution to be paid for the period from July 1 to Sept 24 this year; as well as the preferential offering. 

sentifi.com

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Units in Keppel DC Reit closed at S$1.94 on Tuesday, down 1 per cent, or two Singapore cents.