Keppel DC Reit launches preferential offering at S$2.03 apiece

THE manager of Keppel DC Real Estate Investment Trust (Reit) on Monday (Dec 2) announced the launch of its preferential offering for 148.4 million new units at an issue price of S$2.03 apiece. 

The non-renounceable preferential offering, which is on the basis of 86 preferential units for every 1,000 existing units, opens on Monday at 9 am and will close on Dec 10. 

It is part of an equity funding exercise to raise gross proceeds of around S$1.1 billion, the manager said on Nov 19. The exercise also includes a private placement, which closed on Nov 20 at S$2.09 apiece with 334.9 million new units issued, and the issuance of sponsor subscription units. 

The S$2.03 issue price represents a discount of 4.5 per cent from the six-month volume-weighted average price of S$2.12229 per unit. 

The preferential offering will close at 5.30 pm on Dec 10 for acceptances made via the application form, electronic applications via the Singapore Exchange investor portal and remittances via PayNow, and at 9.30 pm the same day for acceptances made via electronic applications through an ATM of a participating bank. 

Entitled unitholders who wish to accept their allotment of new units under the preferential offering should do so according to the instruction booklet that the Reit’s manager launched on Monday. 

SEE ALSO

Keppel DC Reit’s upsized private placement closes at S$2.09 apiece; equity fundraising totals S$1.1 billion

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Units of Keppel DC Reit closed flat at S$2.22 on Friday before the news.