Keppel DC REIT launches IPO – Channel News Asia.
ABOUT KEPPEL DC REIT
Keppel DC REIT is the first data centre real estate investment trust to be listed in Asia and on the SGX-ST. Keppel DC REIT is established with the investment strategy of principally investing, directly or indirectly, in a diversified portfolio of income-producing real estate assets which are used primarily for data centre purposes, as well as real estate-related assets, with an initial focus on Asia-Pacific and Europe. The IPO Portfolio comprises eight high-quality data centre properties strategically located
in key data centre hubs across seven cities in Asia-Pacific and Europe.
- IPO Price = S$0.93
- Capitalisation = S$1.1 Billion (Page 47 Keppel Data Centre REIT IPO Prospectus)
- NAV = S$0.87
- Price / NAV = 1.07 –> IPO price is 7% Premium to the NAV.
- Projected DPU Yield = 6.8% (2015), 7.1% (2015) (Page 19 of Keppel Data Centre REIT IPO Prospectus)
- Net Asset = S$764.9 Million (Page 54 of Balance Sheet of Keppel Data Centre REIT IPO Prospectus)
- Weighted Average of Units outstanding = 882.93 Million (Page 57 of Income Statement of Keppel Data Centre REIT IPO Prospectus)
- Gearing Ratio = 27.8% (30% if include Financial lease liabilities) (Page 21 of Keppel Data Centre REIT IPO Prospectus)
- WALE = 7.8 Years
- Occupancy Rate = 93.5% (page 16 of Keppel Data Centre REIT IPO Prospectus)
- Distribution Policy = At least 90% of Annual Distributable Income on half-yearly basis. (Page 19 of Keppel Data Centre REIT IPO Prospectus)
- Sponsor: Keppel Telecommunicatios & Transportation Ltd
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See other Singapore REIT Comparison Table here.