Keppel DC Reit raises S$242.8m in gross proceeds from preferential offering

MAINBOARD-LISTED Keppel DC Reit has raised S$242.8 million in gross proceeds from its oversubscribed preferential offering, the company announced in a bourse filing on Wednesday. 

The cash call is part of Keppel DC Reit's move to raise S$478 million via the offering and a separate private placement to fund its acquisition of two data centres in Singapore later this year.

Some 142 million new units will be issued under the offering at an issue price of S$1.71 per unit. The new units are expected to be listed on the SGX on Oct 15. 

As at Oct 7, Keppel DC Reit had received valid acceptances for a total of 131 million new units and applications for another 117.9 million additional new units in excess of provisional allotments, implying that the offering was about 175.4 per cent subscribed.

The Reit's managers, Keppel DC Investment Holdings (KDCIH) and Keppel DC Reit Management (KDCRM), have accepted their provisional allotments of 35.6 million units and over 251,500 units respectively. 

Once the offering is complete, KDCIH and KDCRM will respectively own an aggregate interest of about 22.96 per cent and 0.16 per cent of the total number of units in issue.

Units of Keppel DC Reit last traded at S$1.98 on Wednesday, up five cents.