The manager of Keppel REIT has closed the book of orders for the proposed private placement on Feb 18.

See: Keppel REIT seeks to raise $270.0 mil through proposed private placement of up to 242.8 mil new units

The private placement was about 4.6 times covered and saw “strong participation from new and existing institutional, accredited and other investors”.

The issue price per new unit was fixed at $1.13, representing a discount of 4.1% to the volume weighted average price (VWAP) of $1.1783 per unit in Keppel REIT of all trades done on the SGX-ST for the preceding market day on Feb 17.

A total of 238.9 million new units will be issued.

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According to the manager, the total gross proceeds from the private placement stands at some $270.0 million.

The trading of the new units are expected to begin at 9am on March 1.

Units in Keppel REIT last traded at $1.19 on Feb 17 before its trading halt before market open on Feb 18. The manager has since requested for the lifting of the halt at 11.39pm on the same day.