Keppel DC REIT Said to Seek Up to $393 Million in Singapore IPO

Keppel DC REIT, a trust that will be backed by data center properties, is seeking to raise as much as S$512 million ($393 million) from its Singapore initial public offering, people with knowledge of the matter said.

The trust plans to offer units at 90 Singapore cents to 93 Singapore cents each, the people said, asking not to be named as the details are private. It intends to offer a dividend yield of as much as 7.1 percent for the 2015 fiscal year, they said.