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Keppel DC REIT a blockbuster hit on trading debut
105m shares were traded during the day.
Keppel DC REIT’s much-anticipated IPO did not disappoint during its trading debut last week. The stock opened at $0.98 each when it commenced trading on 2pm on Friday, 5.4% above its offering price of $0.93 per unit.
Trading of Keppel DC REIT shares continued to be robust through the trading day, with 105,000,000 Units exchanging hands and reaching an intra-day high of S$0.985. The counter closed at S$0.965 per Unit, 3.8% above the Offering Price.
Keppel DC REIT's strong debut upon commencement follows equally strong public interest with the Units offered by way of Public Offer being approximately 9.6 times subscribed.
15,627 valid applications for an aggregate of 514,724,000 Units amounting to approximately $478.7 million were received at the close of the Public Offer at 12.00 pm on 10 December 2014.
Indications of interest received from institutional investors for the Placement Tranche amounted to $4.7 billion, representing approximately 24.4 times of the Units available1 under the Placement Tranche.
In total, Keppel DC REIT raised $512.9 million, making it the largest REIT IPO on the SGX-ST for the year-to-date.
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