Keppel DC REIT Raises SG$625 Million in Oversubscribed Private Placement

MT Newswires09-02

Keppel DC REIT (SGX: AJBU) has raised SG$625 million through a private placement, expanding the offering from an initial target of approximately SG$600 million after drawing strong demand, according to a Wednesday filing with the Singapore Exchange.

The placement, which closed on Tuesday, involves the issuance of about 297.6 million new units at an issue price of SG$2.100 apiece.

Of the total proceeds, SG$615.8 million will be used to fund the acquisition of an 88.6% stake in two freehold hyperscale data centers in Inzai City, Japan.

Another SG$9.2 million has been earmarked to cover professional fees and expenses associated with the private placement.

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