SINGAPORE - The initial public offer (IPO) of Keppel DC Reit was launched on Friday.
It is Asia's first Reit with a portfolio focusing on data centres. The IPO was launched amid strong market anticipation that its eight data centres in Singapore, Malaysia, Australia, the UK, Ireland and the Netherlands will ride the global growth in demand for specialised facilities to host cloud computing and e-commerce services.
The Reit will be managed by Keppel DC Reit Management, a wholly owned subsidiary of Keppel Telecommuncations & Transportation, which owns the data centres.
The offer opens Friday night at 9pm and closes on Dec 10 at 12pm. The offer includes 53.763 million shares for the public at 93 cents per share, along with over 207 million international placement shares. The placement shares were 24.4 times subscribed by institutional investors. Trading commences Dec 12 at 2pm.
Investors will enjoy a 6.8 per cent distribution yield in forecast year 2015 and 7.1 per cent in projection year 2016, said chief executive of the REIT manager Mr Chua Hsien Yang at a press conference today.