At a gross price of S$1.38 billion, Keppel DC REIT will be purchasing from its sponsor Keppel a joint-venture unit, which owns the Keppel Data Centre Campus in Singapore:

Keppel DC REIT will have full ownership of data centres KDC SGP 7 and KDC SGP 8, while Keppel will maintain its operational and management roles for both, the companies said in a joint statement.

To fund the operation, an equity raising exercise of about S$1 billion is launched:

This comprises a private placement to raise around S$600 million in gross proceeds, and a non-renounceable preferential offering to raise gross proceeds of about S$300 million. It will also include an issuance of subscription units to raise about S$85 million.