Keppel DC Reit prices Singapore IPO at the top

Flotation of Asia's first data centre Reit priced at top of range after attracting very strong institutional demand.

Keppel DC Reit is on course to raise S$512.98 million $410 million from its Singapore initial public offering after pricing the deal at the very top of its S$0.90 to S$0.93 indicative range. 

Sources reported no price sensitivity in the institutional order book, which closed one day ahead of schedule and about 10 times oversubscribed. Allocations were largely determined by management rather than the bookrunners and were awarded on the basis of being known to the company, or having attended the deal's roadshow.

Paper was, nevertheless, spread fairly widely among the 180 accounts, which participated. No single account was allocated more...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222