The private placement was about 4.6 times covered and saw “strong participation from new and existing institutional, accredited and other investors”.
The issue price per new unit was fixed at $1.13, representing a discount of 4.1% to the volume weighted average price (VWAP) of $1.1783 per unit in Keppel REIT of all trades done on the SGX-ST for the preceding market day on Feb 17.
A total of 238.9 million new units will be issued.
According to the manager, the total gross proceeds from the private placement stands at some $270.0 million.
The trading of the new units are expected to begin at 9am on March 1.
Units in Keppel REIT last traded at $1.19 on Feb 17 before its trading halt before market open on Feb 18. The manager has since requested for the lifting of the halt at 11.39pm on the same day.
