Keppel DC real estate investment trust (REIT) made a strong debut on the Singapore Exchange (SGX) on Friday (Dec 12), opening at 98 cents per share after the initial public offering (IPO) was oversubscribed by 9.6 times at the closing of the offer.
It closed the session at 96.5 cents.
Keppel DC REIT is the first data centre REIT to be listed in Asia. It is also the largest REIT IPO in Singapore this year, having raised S$512.9 million via the offering and from cornerstone units.
The Deputy Chairman of Keppel DC REIT Chan Hon Chew said rising demand for data centres is underpinned by strong fundamental growth drivers such as the rise in data creation and storage needs, the growing adoption of cloud computing and the increasing compliance and regulatory requirements on data security.
The REIT has eight data centres located across Asia Pacific and Europe, including Singapore, Malaysia, Australia and United Kingdom.
Source : Channel NewsAsia – 12 Dec 2014