Singapore infrastructure company Keppel Telecommunications & Transportation (Keppel T&T) (SGX:K11) announced on 25 november that it has received overwhelming shareholders’ approval with regards to its intention to list a REIT.
The resolution, passed at an extraordinary general meeting (EGM) held on the afternoon of 25 November, was approved with 99.99% voting for the REIT’s establishment.
Keppel T&T first indicated in October 2914 that it will be spinning off its data centres into what will possibly be Asia’s first REIT of its kind. The proposed security will likely be known as the Keppel Data Centre REIT (Keppel DC REIT).
The REIT’s initial portfolio will comprise of Keppel T&T’s two data centres in Singapore at 25 Serangoon North Avenue 5 and 25 Tampines Street 92, Gore Hill Data Centre in Sydney, Australia, iseek Data Centre in Brisbane, Australia, Basis Bay Data Centre in Selangor, Malaysia, GV7 Data Centre in London, UK, Almere Data Centre in Amsterdam, the Netherlands and Citadel 100 Data Centre in Dublin, Ireland.
Keppel T&T has indicated that it intends to subscribe for new units comprising of at least 30.1% interest in Keppel DC REIT upon its IPO. However no indication is forthcoming from the company as to when it is expected to list nor have there been any indication of IPO price.