Keppel DC Reit IPO meets with strong demand from investors

The Singapore data centre in Keppel DC Reit's portfolio. The Reit will start trading at 2pm today. -- PHOTO: KEPPEL DC REIT MANAGEMENT 
The Singapore data centre in Keppel DC Reit's portfolio. The Reit will start trading at 2pm today. -- PHOTO: KEPPEL DC REIT MANAGEMENT 

SINGAPORE - Singapore's largest Reit IPO this year notched up a strong subscription rate of 9.6 times.

Keppel DC Reit, a data centre Reit, will start trading at 2pm today. It raised $512.9 million from the IPO.

The IPO shares were priced at 93 cents apiece. Cornerstone investors include AEW Asia, private banking customers of DBS Bank, Eastspring Investments (Singapore), Fortress Capital Asset, Mr Gordon Tang and Mr Lim Chap Huat.

Keppel DC Reit has eight data centres in Singapore, Malaysia, Australia, Britain and the Netherlands. Occupancy is at 93.5 per cent, with 97.8 per cent retention rate from clients, which are mostly Fortune 500 companies and listed multinationals.