Keppel-KBS US REIT reports strong demand for IPO

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Keppel-KBS US REIT has reported strong demand from both retail and institutional investors for its initial public offering (IPO) of 262.7 million units, which have been offered at USD0.88 each.

At the close of the public offer at 12 noon on 7 November 2017, 9,064 valid applications for an aggregate of 227,764,700 units of the REIT were received, resulting in the IPO being approximately 6.7 times subscribed.

Keppel-KBS US REIT’s IPO consists of an international placement trance of 228,681,800 units to investors outside of the US, and a public offering of 34,090,600 units in Singapore.

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About Author

Ridzwan Rahmat has been analysing Singapore-listed REITs and business trusts, since 2008. For disclosure purposes, Ridzwan is currently vested in Mapletree Greater China Commercial Trust, Mapletree Industrial REIT and Mapletree Logistics Trust.

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