Keppel Corp sells S$11.1 million worth of Keppel Reit units

Keppel Real Estate Investment Trust (Reit) Management, the manager of Keppel Reit : K71U 0%, : K71U 0%has sold S$11.1 million worth of Keppel Reit units on Friday (Apr 29), Keppel Corp announced after market close. This decreased the company’s interest in the Reit to 46.68 per cent from its previous 46.92 per cent.

The amount at which the 9 million units were sold took into consideration Keppel Reit's last transacted price of S$1.23 per unit on the Singapore Exchange Securities Trading Limited on Apr 28 and the volume weighted average price per unit of S$1.2434 for the full market day. 

Keppel noted that the transaction is not expected to have any material impact on the earnings per share and net tangible asset per share of the company for the current financial year.

Shares of Keppel Corp last traded 0.15 per cent or 1 Singapore cent higher at S$6.87, while units of Keppel Reit closed 0.81 per cent or 1 Singapore cent lower at S$1.22 on Friday.