Roadshows and bookbuilding began in Singapore on Tuesday for an initial public offering by Keppel DC Reit, a trust backed by data centre properties, that could raise as much as S$512.98 million $410 million.
Barring a sudden downturn in global equity markets, Keppel DC Reit's IPO is likely to be well received given its attractive pricing, extensive cornerstone investor support and the strong brand name of its sponsor, Keppel Telecommunications and Transportation.
A total of nine cornerstone investors have signed up for 53% of the offering, which is being pitched at S$0.90 to S$0.93 per unit. They comprise Wellington Management 64.5 million units, Fortress...
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