Singapore's Keppel Corp is hoping to introduce a new investment category to the Asian equity capital markets after starting to pre-market an initial public offering of its data centre assets.
The flotation of Keppel DC Reit could raise up to S$540 million $432 million according to a term sheet seen by FinanceAsia. The deal will comprise 70% of the group's enlarged share capital, with parent company Keppel Telecommunications and Transport TT pledging to retain at least a 30.1% stake.
Most of the listing company's assets are being spun out of Keppel TT, which hopes the IPO will...
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