Keppel DC Reit’s newly issued preferential offering units to start trading on SGX at 9 am

KEPPEL DC Reit’s manager announced that it has issued 148.4 million new preferential offering units at S$2.03 apiece which will begin trading on the mainboard of the Singapore Exchange (SGX) at 9 am on Wednesday (Dec 18).

This brings the total number of units in issue to 2.2 billion, the real estate investment trust’s (Reit) manager said on Wednesday.

Upon issue, the new preferential offering units will rank pari passu (on equal footing, without preference) in all respects with units in issue as of one day before the new units are issued, the Reit’s manager said.

This includes the right to any distributions which may be paid for the period starting from the issue date of its new private placement units on Nov 28, 2024, until Dec 31, 2024, as well as all distributions thereafter.

Earlier on Dec 2, the manager announced the launch of the preferential offering. This was part of its equity funding exercise to raise gross proceeds of around S$1.1 billion announced on Nov 19.

The exercise also includes a private placement, which closed on Nov 20 at S$2.09 apiece with 334.9 million new units issued, and the issuance of sponsor subscription units.

Units of Keppel DC Reit ended Tuesday 0.5 per cent or S$0.01 higher at S$2.15.

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