Keppel Reit placement upsized to $123 million

The deal is priced at a 0.1% discount to the dividend-adjusted close, which is the tightest ever for a Singapore Reit placement.
Singapore Home to more than 90% of Keppel Reit's assets

Keppel Reit, one of the biggest real estate investment trusts Reits listed in Singapore, and its major unitholder, Keppel Corp, have raised a total of S$153 million $123 million from a combined sale of new and existing units.

The deal was launched after the market closed on Thursday and was oversubscribed in about an hour, primarily by long-only funds and real estate specialists, a source said on Friday.

It came at a fixed offer price of S$1.33 per unit, which represented a 1.1% discount to Thursday’s close of...

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