Keppel DC REIT's Private Placement 3.4 Times Covered; Raises SG$1 Billion in Gross Proceeds

MT Newswires

Nov 20, 2024

Keppel DC REIT's (SGX:AJBU) private placement to raise funds of around SG$1.0 billion for its acquisitions was 3.4 times covered, according to a filing with the Singapore Exchange on Wednesday.

The placement size increased to about SG$1.09 billion from roughly SG$985 million following the exercise of the upsize option.

The price of the new units was fixed at SG$2.09 per unit while the issue price per preferential offering new unit was fixed at SG$2.03 per new unit.

A total of 334,929,000 private placement units will be issued as well as 148,413,063 preferential offering units.

The new private placement units are expected to be listed and quoted on the SGX on Nov. 28.

Shares of the REIT were up over 2% in recent trading.

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