Member access

4-Traders Homepage  >  Shares  >  SINGAPORE EXCHANGE  >  Keppel Land Ltd    KLAN   SG1R31002210


SummaryChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

Keppel Corp, Keppel REIT Sell Units to Raise About S$153 Million

02/21/2013 | 09:56pm US/Eastern
   By Chun Han Wong 

SINGAPORE--Keppel Corp. (BN4.SG) and Keppel REIT together raised about 153 million Singapore dollars ($123.6 million) by selling units in the real-estate investment trust, the companies said Friday.

Keppel Corp., a Singaporean conglomerate with interests in offshore and marine, real estate and telecommunications, raised about S$100 million by paring its stake in Keppel REIT to 71.7% from 75.6%.

Keppel Corp. sold 75 million Keppel REIT units to unnamed buyers at S$1.33 apiece, it said in a disclosure to the Singapore Exchange. The selling price marked a 1.1% discount to the REIT's closing price on Thursday of S$1.345.

Keppel REIT is sponsored by Keppel Land Ltd. (K17.SG), the real-estate arm of Keppel Corp.

In a related deal, Keppel REIT (K71U.SG) raised S$53.2 million in a placement, selling 40 million new units at S$1.33 apiece. In a disclosure, the trust said it will use the proceeds to repay debt, and fund general corporate uses and working capital.

Barclays Bank handled both deals.

Write to Chun Han Wong at

Subscribe to WSJ:

Recommend :
React to this article
Latest news on KEPPEL LAND LTD
4d ago KEPPEL LAND : to divest one-third interest in Marina Bay Financial Centre Tower ..
4d ago KEPPEL LAND : REIT strengthens foothold in Singapore’s prime financial dis..
4d agoDJSingapore's Keppel Land, Affiliate Halt Share Trading
09/01 Keppel Telecommunications and Transportation appoints Mr Lim Chin Leong to it..
08/22 KEPPEL LAND : Completion of Divestment of Equity Plaza
08/21DJHSBC China Flash PMI Falls to 3-Month Low in August --2nd Update
08/19 KEPPEL LAND : Appointment of Additional Member to the Audit Committee
07/29 KEPPEL LAND : Asset Acquisitions and Disposals, Acquisition of Residential Site ..
07/28 KEPPEL LAND : partners Macklowe Properties for a prime residential development i..
07/23 KEPPEL LAND : Unaudited Results for Second Quarter and Half Year ended 30 June 2..
Duration : Period :
Keppel Land Ltd Technical Analysis Chart | KLAN | SG1R31002210 | 4-Traders
Income Statement Evolution
Keppel Land Ltd : Income Statement Evolution
More Financials
Dynamic quotes