Keppel-KBS US Reit launched a $448 million initial public offering on Wednesday, hoping to replicate the success of its predecessor, Manulife US Reit, which has consistently outperformed expectations since it listed in May 2016.
If its 509.137 million unit flotation is successful, Keppel-KBS US Reit will become the second US-focused reit to list in Singapore. It will also boost issuance activity from the sector, which is running below 2016 levels because there has only been one IPO so far this year from Dasin Reit, which raised $108 million in January.
According to Dealogic figures, there has been $1.9 billion in issuance from the Singapore reit...
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