Keppel-KBS US REIT launches US$533.1 mil IPO

SINGAPORE (Nov 2): Keppel-KBS US REIT has launched its US$553.1 million ($752 million) initial public offering, giving investors exposure to the US office real estate sector.

The REIT is offering 34 million units priced at US 88 cents each, as well as placement tranche of 228 million units. There is also an overallotment option of 31.4 million units.

The public offer will close at 12 noon next Tuesday Nov 7, with the units expected to start trading on the Singapore Exchange at 2pm, Nov 9.

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