Keppel DC REIT closes preferential offering with 79.4% excess applications

The REIT received 117.7 million excess applications.

Keppel DC REIT received valid acceptances and excess applications for a total of 237.3 million preferential offering units in its offering which closed on 10 December.

In a bourse filing, the REIT reported that the 119.5 million valid acceptances represent 80.5% of the total units offered.

Meanwhile, the 117.7 million excess applications account for 79.4% of the total. Overall, the preferential offering was approximately 159.9% subscribed. 

Keppel DC REIT will allocate the 28.8 million preferential offering units "not validly accepted or not taken up" to satisfy excess applications.

In addition, a total of 148.4 million preferential offering new units will be issued at the issue price of S$2.03 per unit to raise gross proceeds of approximately $301.3m.

The preferential offering units are expected to be listed on the mainboard of the SGX-ST with effect from 9.00 a.m. on 18 December.