Keppel DC REIT (IPO)

Keppel DC REIT: will sell ~261.1m units at the upper end of the indicative range of $0.93, raising $243m from the IPO. The invitation will consist of an int'l placement of 207.4m units (incl institutional investors in SG), and a public offer of 53.8m units. There is an overallotment option. KDCR portfolio holds 8 data centres located in key data centre hubs across Asia Pac and Europe, with aggregate lettable area of 510k sqft and aggregate appraised value of $1b. Distribution is 6.8% in forecast year 2015 and 7.1% in projection year 2016. Institutional interest was firm representing 24.4x of the placement tranche. Public offer opens 9pm tonight and closes noon on 10 Dec (Wed) . Trading to debut 2pm on 12 Dec (Fri)