Keppel T&T

Keppel T&T: lodged the IPO prospectus for Keppel DC REIT yesterday, after obtaining shareholders’ approval on Tuesday to spin off the latter via a listing of 261.36m units at an indicative price range of $0.90-$0.93 on SGX’s mainboard. Eight new assets will be injected into the new data centre trust, comprising: 1. Keppel Digihub in Singapore 2. Keppel Datahub 1 in Singapore 3. Gore Hill Data Centre in Sydney, Australia 4. iseek Data Centre in Brisbane, Australia 5. Basis Bay Data Centre in Selangor, Malaysia 6. GV7 Data Centre in London, UK 7. Almere Data Centre in Amsterdam, Netherlands 8. Citadel 100 Data Centre in Dublin, Ireland Separately, nine cornerstone investors have agreed to subscribe 290.32m units, but DBS Bank is the only cornerstone investor subject to a lock up period. The total amount to be raised is between $496.5m and $513m, making it the second biggest listing this year. Indicative timetable: Opening date for Public Offer: 5 December, 5pm Closing date for Public Offer: 10 December, 12pm Completion of acquisition of Singapore properties: 12 December at or before 2pm Commence trading: 12 December, 2pm