Singapore-listed Office landlord Keppel REIT (K-REIT) (SGX:K71U) announced that it has successfully placed 40,000,000 new units to raise gross proceeds of S$53.2 million.

K-REIT raises S$53.2 million in placement

In a placement that was oversubscribed, orders for an additional 75,000,000 units were also received. K-REIT will be making a formal application to the Singapore Exchange for the listing of the new units on the Main Board of the SGX. Separate announcements on the approval from the SGX and expected listing date of the new units will be made in due time. The placement has been managed by Barclays Bank Singapore.

K-REIT closed the trading day at SGD$1.35.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.