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 IPO, 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. At $393 million, Keppel DC REIT would be the second-biggest IPO in Singapore this year, after Accordia Golf Trust (AGT)’s $610 million offering in July. First-time share sales in Singapore have raised $2.3 billion this year, compared with $5.2 billion during the same period in 2013. Keppel DC REIT’s portfolio will include two data centers each in Singapore and Australia, as well as one property in Malaysia and three in Europe, according to a filing this month. Keppel T&T (KPTT) and Keppel Land (KPLD) will hold 35 percent of the REIT after the offer, one of the people said.... Continue Reading