Corporate digest

Keppel-KBS US Reit

KEPPEL-KBS US Reit's initial public offering received an overwhelming response with its placement tranche for 228,681,800 units to investors outside the US oversubscribed.

The 34,090,600 units that were offered to the general public in Singapore were about 6.7 times oversubscribed. This public offer drew 9,064 valid applications for an aggregate of 227,764,700 units. In total, gross proceeds of about US$553.1 million were raised from over 628.5 million units issued, including those to cornerstone investors and joint sponsors who own the Reit manager.