Temasek sold stake in Keppel REIT for $125m
KREIT's free float to rise to over 55%.
According to OSK, Temasek holdings has sold off its entire direct stake in office landlord Keppel Reit for SGD125m in a share placement involving 103994321 shares offered at a price range of between SGD1.195 to SGD1.21 representing a 1.6%-1.8% discount to the trust's last closing price of SGD1.23 on 21 Oct 2013.
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The stake it sold was from the special dividend distributed by Keppel Corp to its shareholders during its FY2012 final results announcement. With the share placement, KReit's free float will rise to more than 55% from 24.4% in January.