Keppel-KBS US Reit to raise gross proceeds of US$553m

Singapore

KEPPEL-KBS US Reit, sponsored jointly by Keppel Capital and KBS Pacific Advisors, is expected to raise gross proceeds of US$553.1 million from its initial public offering (IPO) and sale of units to its sponsors and cornerstone investors at US$0.88 per unit.

This marks the second US Reit to be listed in Singapore, following the listing of Manulife US Reit that raised US$519.2 million (US$0.83 per unit) last May.