Search

    NEWS
    COMMERCIAL PROPERTY | Staff Reporter, Singapore
    Published: 21 May 13
    526 views


    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. 



    Sign up for our newsletter

     

    Do you know more about this story? Contact us anonymously through this link.

    Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

    To get a media kit and information on advertising or sponsoring click here.

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

    LATEST COMMERCIAL PROPERTY JOBS »
    PRINT ISSUE »

    Subscribe Now
    What factors are keeping expats rooted in Singapore?

    1321 views

    What factors are keeping expats rooted in Singapore?

    637 views

    Can Asian private equity outgrow the west?

    299 views

    MOST READ EXCLUSIVES

    The 10 richest Singaporeans

    The 10 richest Singaporeans

    Altogether, their total amount of wealth dropped by 20% to US$32.5 billion.

    by KRISANA GALLEZO
    13 Apr 2015 | 111962 views
     

    16 items that are a tad cheaper in Singapore than in Hong Kong

    16 items that are a tad cheaper in Singapore than in Hong Kong

    Coffee lovers need not go farther for a cheaper cup of cappuccino.

    by KRISANA GALLEZO
    20 Mar 2015 | 106794 views

    Check out P&G Singapore’s new office with outdoor working spaces

    Check out P&G Singapore’s new office with outdoor working spaces

    It occupies 6 contiguous floors within The Metropolis.

    by LEE ANNE BABIERRA
    30 Apr 2015 | 21641 views
     

    Singapore’s 8 hottest 40 and under hotel chefs

    Singapore’s 8 hottest 40 and under hotel chefs

    Check out and be inspired from their humble beginnings before rising the ranks.

    by KRISANA GALLEZO
    27 Mar 2015 | 14657 views

    This is a woman’s world: CRIB launches Singapore’s first business and lifestyle incubator for women

    This is a woman’s world: CRIB launches Singapore’s first business and lifestyle incubator for women

    Find out what the three key platforms of CRIB are.

    by KRISANA GALLEZO
    10 Mar 2015 | 8945 views
     

    The New Black hits Singapore with rarest green coffee

    The New Black hits Singapore with rarest green coffee

    It also boasts of its Impossible Collection curated by the ‘world’s rockstar roasters'.

    by KRISANA GALLEZO
    5 Mar 2015 | 5602 views

    All the single ladies: Here’s Singapore’s first female-centric dating app for you

    All the single ladies: Here’s Singapore’s first female-centric dating app for you

    Its female-friendly features help women find serious daters.

    by LEE ANNE BABIERRA
    20 Apr 2015 | 5597 views
     

    Get to know the husband-and-wife duo behind the novice 3E Accounting

    Get to know the husband-and-wife duo behind the novice 3E Accounting

    This local accounting firm expanded from 2 to 35 members in just 4 years.

    by KRISANA GALLEZO
    24 Apr 2015 | 5369 views

    Take a sneak peek at Equinix’s $300m international business exchange data centre in Singapore

    Take a sneak peek at Equinix’s $300m international business exchange data centre in Singapore

    Which took almost a decade to finish.

    by KRISANA GALLEZO
    27 Apr 2015 | 3921 views
     

    Lazada Singapore CEO Martell Hardenberg talks about his “Happy Customer” philosophy

    Lazada Singapore CEO Martell Hardenberg talks about his “Happy Customer” philosophy

    Find out what other goals the 27-year-old has for the company.

    by KRISANA GALLEZO
    27 Mar 2015 | 3704 views

    Want to be hands-on with your ideal home setting?

    Want to be hands-on with your ideal home setting?

    Commune is opening an Experience Centre for meticulous homeowners.

    by KRISANA GALLEZO
    23 Mar 2015 | 3432 views
     

    Office in the sky: How’s having a meeting in the clouds?

    Office in the sky: How’s having a meeting in the clouds?

    Check out ACL Asia Pacific’s Cumulonimbus, Altostratus and Cirrus rooms.

    by KRISANA GALLEZO
    1 Apr 2015 | 3353 views

    LawCanvas saves the day: Easy legal documents in under a minute

    LawCanvas saves the day: Easy legal documents in under a minute

    The founders revolutionized the legal industry despite having different backgrounds.

    by KRISANA GALLEZO
    2 Mar 2015 | 2914 views
     

    Take a look inside INSEAD’s $55m leadership development centre in Singapore

    Take a look inside INSEAD’s $55m leadership development centre in Singapore

    It marks the fulfillment of a vision too ambitious to achieve 15 years ago.

    by KRISANA GALLEZO
    1 Apr 2015 | 2791 views

    Check out this quaint co-working space that occupies 5 conservation shophouses

    Check out this quaint co-working space that occupies 5 conservation shophouses

    It has private offices, an events space, and even a beer garden.

    by MARIANNE ESTIOCO
    22 May 2015 | 2323 views
     

    Le Petit Paradis recently rebranded as Enoch’s European

    Le Petit Paradis recently rebranded as Enoch’s European

    It’s a full-fledged contemporary European restaurant blossomed from a motorcycle accident.

    by KRISANA GALLEZO
    22 Apr 2015 | 1526 views

    #OnTheContrary campaign reveals the ‘real struggles’ of entrepreneurs

    #OnTheContrary campaign reveals the ‘real struggles’ of entrepreneurs

    Rags to riches stories are fabulous, but here’s the real deal.

    by KRISANA GALLEZO
    27 Mar 2015 | 1329 views
     

    Find out what it’s like going into business with your in-law

    Find out what it’s like going into business with your in-law

    A young entrepreneur teamed up with his father-in-law to redefine home entertainment needs.

    by KRISANA GALLEZO
    27 Mar 2015 | 1116 views

    What is the future of the sports business in Singapore?

    What is the future of the sports business in Singapore?

    Can a new billion-dollar stadium give Singapore the edge it needs to compete for world-class sporting events?

    by STAFF REPORTER
    20 Mar 2015 | 926 views
     

    HAITE Group launches its first aviation training center in Singapore

    HAITE Group launches its first aviation training center in Singapore

    It is the first major investment by a Chinese aerospace firm.

    by KRISANA GALLEZO
    13 May 2015 | 908 views

    Fragrance Du Bois to launch a new scent this year

    Fragrance Du Bois to launch a new scent this year

    Also, check out its pop-up boutique at TANGS Orchard open until April 26.

    by KRISANA GALLEZO
    17 Apr 2015 | 898 views
     

    This bold ad film tells you what happens when maids are not given their due day off

    This bold ad film tells you what happens when maids are not given their due day off

    ‘Mums & Maids’ generated 5 million views in 5 days.

    by KRISANA GALLEZO
    7 May 2015 | 857 views

    Singapore retailers turn to technology to boost productivity

    Singapore retailers turn to technology to boost productivity

    Shopping for the first child is always challenging for the parents.

    by STAFF REPORTER
    15 May 2015 | 782 views
     

    Megafash sets the stage for local entrepreneurs to introduce indie brands

    Megafash sets the stage for local entrepreneurs to introduce indie brands

    It plans to expand in Malaysia and Indonesia.

    by KRISANA GALLEZO
    20 Apr 2015 | 631 views

    Former strategy advisor reveals aspirations with his newest mobile app startup

    Former strategy advisor reveals aspirations with his newest mobile app startup

    Rediscover and fall in love with your city all over again.

    by LEE ANNE BABIERRA
    22 May 2015 | 364 views
     
    close Don't Show Again

    STAY INFORMED! Get our free weekly newsletter