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Singapore\'s founding father Mr Lee Kuan Yew passes away at 91
REMEMBERING LEE KUAN YEW (1923-2015)
Singapore's founding father Mr Lee Kuan Yew passes away at 91

Over 100,000 people lined the streets on Sunday.
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NEWS
COMMERCIAL PROPERTY | Staff Reporter, Singapore
Published: 21 May 13
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Keppel sells off 180m units of its REIT

Units are worth $1.55 each.

According to OCBC, Keppel Corporation (KEP) announced that its wholly owned subsidiary, Keppel Real Estate Investment Pte Ltd, has entered into a sale and purchase agreement with Goldman Sachs (the placement agent) for the sale of 180m units of Keppel REIT (6.7% of total issued units of KREIT) for S$1.555/unit. 

The aggregate cash consideration of S$279.9m took into account KREIT’s last transacted price of S$1.605/unit as at 20 May 2013 and the 30-day VWAP of S$1.5129.

Here's more from OCBC:

This is at a premium to the book value and NTA/share of S$1.31 and S$1.28, respectively, as at 31 Mar 2013. Upon completion of the sale (expected 27 May), KEP’s interest in KREIT remains substantial (from 58.2% to 51.5%). 

Recall that KEP earlier rewarded shareholders with dividend in specie of KREIT units; announced on 24 Jan 2013 when KREIT’s share price was S$1.37. 



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Tags: Keppel REIT units, Goldman Sachs, dividend in specie

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