Digital Core REIT (DCR) is raising around US$600 million with cornerstone investors taking up 414.78 million units, or US$365 million, a placement of 253.68 million units and 13.35 million units available for retail investors.

The IPO price is 88 US cents and the forecast distribution per unit (DPU) in FY2022 is 4.18 US cents giving a DPU yield of 4.75%. DPU in FY2023 is projected at 4.4 US cents, translating into a projected DPU yield of 5%.

 According to John Stewart, CEO of DCR’s manager, some of the cornerstones are investors in DCR’s sponsor, Digital Realty Trust (DLR). DCR is tax efficient with minimum tax leakage through either corporate or witholding tax.

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