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Keppel-KBS US REIT prices IPO for US$0.88 per unit
The managers bought a 9.5% stake in the trust.
Keppel-KBS US REIT, which is 50% managed by Keppel Corporation, has priced its initial public offering (IPO) for US$0.88 per unit.
According to an announcement, the manager of the IPO also bought a 9.5% interest comprised 59.71 million units amongst the total.
Bloomberg also reported the trust is offering 509.1 million units in total. It is forecasting a dividend yield of about 6.8% for the 2018 fiscal year and 7.2% for 2019, the terms show.
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