Keppel-KBS Raises Capital With 295-for-1000 Rights Issue

News about Keppel Pacific Oak US REIT

Following its agreement to purchase 21 buildings in the Seattle area, Keppel-KBS REIT is raising US$93.1 million of fresh capital with a rights issue. Shareholders who held units on 22 October will be entitled to subscribe to 295 new units for each 1000 held, at a price of US$0.50 per new unit. This represents a 30.1% discount on the closing price of US$0.715 before the announcement.

Keppel Pacific Oak US REIT
Price0.705 USD
NAV0.770 USD
Yield (4 quarters)8.67%
Gearing37.4%