Keppel Reit to begin unit buy-back

Singapore

KEPPEL Reit, which posted flat second quarter distribution per unit (DPU), plans to initiate unit buy-backs to enhance long-term total returns for unitholders of the trust, which its manager believes is undervalued.

In view of the planned buy-backs, the Distribution Reinvestment Plan (DRP) will be suspended, the manager of the trust announced on Monday evening in its results statement for the second quarter ended June 30.

The unit buy-backs will be pursuant to the mandate obtained at the annual general meeting in April this y…