Keppel DC REIT raised $242.8m from oversubscribed preferential offering

Proceeds will be used for Keppel DC Singapore 4 and 1-Net North Data Centre acquisitions.

Keppel DC REIT has raised $242.8m from a preferential offering of 141.99 million units priced $1.71 apiece, an SGX filing revealed.

The REIT received a total of 131.14 million units, as well as applications for 117.89 million units for provisional allotments of about 10.85 million units upon closing. It was 175.4% subscribed.

According to a previous filing, the proceeds will be used to fund the acquisition of Keppel DC Singapore 4 and 1-Net North Data Centre for $384.9m and $200.2m respectively.

Keppel DC Investment Holdings (KDCIH) and Keppel DC REIT Management (KDCRM) will thus own an aggregate interest of 374.13 million and 2.65 million units respectively, which take about 22.96% and 0.16% of 1.63 billion units after the preferential offering.

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