Keppel DC Reit closer to IPO as it lodges preliminary prospectus

Singapore

THE much-awaited Keppel DC Reit initial public offering came a step closer to fruition after the firm lodged a preliminary prospectus on Wednesday for an offer to raise between S$496.5 million and S$513 million, which will make the listing the second biggest this year on the Singapore Exchange.

The amount to be raised includes subscriptions by cornerstone investors for some 290 million shares. The base offering itself will be up to 261.36 million units at a minimum and maximum offer price of 90 Singapore cents and 93 Singapore cents per unit respectively. Post IPO, Keppel T&T will hold a 30 per cent stake in Keppel DC Reit, assuming full exercise of over-allotment option while Keppel Land will own a 4.9 per cent stake.