Keppel Reit issues 7.9m new shares as part of distribution reinvestment plan

KEPPEL Reit Management, manager of Keppel Reit, said on Monday 7.9 million new units in the Reit (real estate investment trust) have been allotted and issued at an issue price of S$1.0004 per new unit.

This is for eligible unitholders of the Reit who have elected to participate in the distribution reinvestment plan in respect of the distribution of 1.48 cents per unit for the period of Oct 1 to Dec 31, 2016.

The manager, in a filing to the bourse operator, said distribution payments to eligible unitholders who did not elect to participate in the plan and non-eligible unitholders will be paid in cash on Feb 28.

The new units will be allotted, issued and credited as fully paid on Feb 28.

Following the issue of the new units, the total number of units in issue will increase to close to 3.319 billion.