Digital Core REIT asset, 1500 Space Park, Silicon Valley. (Digital Core REIT)Digital Core REIT asset, 1500 Space Park, Silicon Valley. (Digital Core REIT)

The public tranche of Digital Core REIT’s initial public offering (IPO) has been 16.1 times subscribed.

Meanwhile, based on the 267,034,000 units available for subscription under the entire IPO including the placement tranche, the exercise was 19.4 times subscribed.

Digital Core REIT accepted applications for its IPO between 29 November and 2 December priced at USD0.88.

Related: Digital Core REIT opens applications for IPO at SGD1.21 per unit

It was priced in the local currency at SGD1.21 per unit based on the exchange rate of USD1.00 to SGD1.375 as determined by Digital Core REIT’s manager.

Digital Core REIT is the second pure-play data centre REIT to list on the Singapore Exchange (SGX) after Keppel DC REIT.

Of the 267,034,000 units offered, 253,682,000 units were issued under a placement tranche for institutional and accredited investors, while 13,352,000 units were offered to the public in Singapore.

In addition to these, there was also an over-allotment of 53,406,000 units, all of which were issued to applicants in the placement tranche.

Digital Core REIT is expected to commence trading at 2 pm on 6 December 2021.

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.