Digital Core REIT Raises $ 600 Million In Singapore’s Largest IPO This Year

An SGX sign is pictured on the Singapore Stock Exchange on July 19, 2017. REUTERS / Edgar Su

Nov. 29 (Reuters) – Digital Core REIT, sponsored by U.S.-listed Digital Realty Trust (DLR.N), is set to raise $ 600 million in an initial public offering (IPO) to Singapore, the city-state’s largest listing this year, the company said in its prospectus on Monday.

The Real Estate Investment Trust (REIT), which has 10 fully owned data centers in the US and Canada valued at approximately $ 1.4 billion, issues 682 million units at $ 0.88 unit, excluding a greenshoe option valued at $ 47 million.

Blackrock Inc (BLK.N), Eastspring Investments, Fullerton Fund Management and AIA Investment Management are among the major investors in the IPO. Major investors are buying shares worth $ 365 million, or 61% of the total supply.

The retail component, about $ 12 million, opens Monday. Shares totaling $ 223 million are placed in other institutions.

The REIT will be listed on December 6.

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Report by Nikhil Kurian Nainan in Bangalore; Editing by Anshuman Daga and Kim Coghill

Our Standards: Thomson Reuters Trust Principles.


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