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An announcement from Keppel REIT ( (SG:K71U) ) is now available.
Keppel REIT has fully utilised the S$886.3 million in gross proceeds raised from its underwritten non-renounceable preferential offering to repay the equity bridge loan used to fund the acquisition of an additional one-third interest in Marina Bay Financial Centre Tower 3. All proceeds, including S$10.7 million originally earmarked for fees and expenses related to the offering, were reallocated to partially finance the acquisition, leaving no remaining unutilised proceeds and underscoring the REIT’s focus on strengthening its stake in a core Grade A office asset in Singapore’s Marina Bay CBD.
The most recent analyst rating on (SG:K71U) stock is a Buy with a S$1.12 price target. To see the full list of analyst forecasts on Keppel REIT stock, see the SG:K71U Stock Forecast page.
More about Keppel REIT
Keppel REIT is a Singapore-listed real estate investment trust focused on owning and managing prime commercial office properties, with a portfolio that includes landmark assets such as Marina Bay Financial Centre Tower 3, targeting stable income from high-quality tenants in key business districts.
Average Trading Volume: 11,189,912
Technical Sentiment Signal: Buy
Current Market Cap: S$4.79B
See more data about K71U stock on TipRanks’ Stock Analysis page.