I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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Friday, 22 February 2013

Keppel Reits and Keppel Corp sell shares


KEPPEL345
 
Separately, parent Keppel Corp announced the sale of 75 million Keppel Reits shares at S$1.33 to raise S$99.75 million - PHOTO : KEPPEL

Keppel REIT is raising S$53.2 million via the placement of 40 million new shares at S$1.33 per share. The net proceeds from the placement will be approximately S$52.3 million, after deducting the underwriting and selling commission and other estimated fees and expenses (including professional fees and expenses). The issue price is a discount of 0.64 per cent to the adjusted volume weighted average price of S$1.3385 per unit on February 21. The bulk of the funds raised will be used to repay outstanding borrowings, general corporate and working capital purposes. The placement will increase total traded unit base by 1.52 per cent.

Separately, parent Keppel Corp announced the sale of 75 million Keppel Reits shares at S$1.33 to raise S$99.75 million. The sale will reduce Keppel Corp's interest in Keppel Reits to 71.66 per cent, from 75.59 per cent prior to sale.


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