Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

News SummaryMost relevantAll newsSector news 

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 chunhan.wong@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

React to this article
Latest news on KEPPEL LAND LTD
09/05 KEPPEL LAND : REIT acquires three remaining prime street frontage retail units a..
06/26 Keppel Corporation Limited - Increase in Shareholding in Subsidiary Company
05/05 KEPPEL LAND LTD : ex-dividend day for annual dividend
04/16DJKEPPEL LAND : Corp Reports 6% Rise in First-Quarter Net Profit, Flags Crude Worr..
04/16 Keppel Corporation Unaudited Results For The First Quarter Ended 31 March 201..
04/15 KEPPEL LAND : Unaudited Results for the Quarter Ended 31 March 2015
04/15DJKeppel Land First Quarter Net Profit Falls 17%
03/26 KEPPEL LAND : Notice of Dates for Keppel Group's First Quarter 2015 Financial Re..
03/26DJKeppel Corp. Extends Deadline to Buy Out Shares of Keppel Land
03/25DJKeppel Corp Reaches Threshold to Take Keppel Land Private
News chart
Full-screen chart