Keppel DC Reit Said to Seek Up to $512 million in Singapore IPO: report

Keppel DC Reit, a trust that will be backed by data centre properties, is seeking to raise as much as $512 million from its Singapore initial public offering, Bloomberg News said on Tuesday, quoting people with knowledge of the matter.

At this figure, Keppel DC Reit would be the second-biggest IPO in Singapore this year, after Accordia Golf Trust's $782 million offering in July, according to data compiled by Bloomberg.

The Keppel trust plans to offer units at 90 to 93 cents each and a dividend yield of as much as 7.1 per cent for the 2015 fiscal year, Bloomberg reported.

Keppel T&T shareholders are meeting on Tuesday to vote on the proposed REIT listing as well as the planned sale of the company's stakes in data centres in Singapore, Australia and Europe to the trust.