The IPO of Singapore’s second pure-play data center REIT has seen its public offer 16.1 times subscribed as balloting closed on 3 Dec.
Digital Core REIT (DCR) announced that for the public offer, it received just over 10,700 valid applications for about 214.84 million units. There were 13.35 million units available for subscription in the public offer.
According to DCR, the allocation of the public offer is as follows:
Source: Digital Core REIT
DCR also said that for its placement tranche of 253.68 million units, indications of interest resulted in the tranche being approximately 19.6 times subscribed, excluding the overallotment option.
See also: Points to note for Digital Realty Trust, Digital Core REIT and the IPO portfolio
Based on the listing price of US$0.88 per share, and a total IPO of just over 264 million Units, DCR is expected to have a listing value of US$990 million, making it the largest IPO of 2021.
Singapore subscribers will pay $1.21 per unit for the IPO, as determined by the exchange rate of US$0.74 = $1 as at November 12, when the prospectus was lodged.
The shares are expected to be credited to successful applicants by Dec 6, 2pm, and will be ready for trading at the same time.
