Keppel Telecommunications & Transportation

Hmm, will this be a hot IPO ? The first data centre REIT to be listed on Singapore Exchange.

ANNOUNCEMENT IN RESPONSE TO ARTICLES DATED 30 OCTOBER 2014

The board of directors of Keppel Telecommunications & Transportation Ltd (the “Company”) refers to both the IFRasia.com article entitled “Keppel T&T set to premarket up to US$400m trust IPO” and the Reuters article entitled “Keppel T&T to start pre-marketing trust IPO next week” published today.

The Board wishes to confirm that efforts to carry out an initial public offering (the “IPO”) and listing of a data centre real estate investment trust (“REIT”) on the Main Board of Singapore Exchange Securities Trading Limited (the “SGX-ST”) are currently ongoing. A listing application to the SGX-ST and various applications to the Monetary Authority of Singapore have been submitted in connection with the IPO and these applications are currently under review. The details of the terms of the IPO are still being finalised and the proposed establishment and listing of the REIT will be subject to, among other things, market conditions, the relevant regulatory and other approvals being obtained and the execution of definitive agreements by the relevant parties.

The Company will make the relevant announcements in accordance with the SGX-ST Listing Manual at the appropriate time.
...

http://infopub.sgx.com/Apps?A=COW_CorpAn...uddies.com

Riding on Keppel's name, sure sell but heard forward yield less than 5%... ie quite tough for future yield compression and hence capital gains...

There is a comparison Down Under (AJD):

http://asiapacificdc.com/who-we-are/

http://asiapacificdc.com/wp-content/uplo...ebsite.pdf

IPOed last yr A$1.00, DPU $0.09 last traded $1.09, book value $1.11...

Odd Lots Vested
KTT

(30-10-2014, 08:57 PM)cyclone Wrote: Hmm, will this be a hot IPO ? The first data centre REIT to be listed on Singapore Exchange.

ANNOUNCEMENT IN RESPONSE TO ARTICLES DATED 30 OCTOBER 2014

The board of directors of Keppel Telecommunications & Transportation Ltd (the “Company”) refers to both the IFRasia.com article entitled “Keppel T&T set to premarket up to US$400m trust IPO” and the Reuters article entitled “Keppel T&T to start pre-marketing trust IPO next week” published today.

The Board wishes to confirm that efforts to carry out an initial public offering (the “IPO”) and listing of a data centre real estate investment trust (“REIT”) on the Main Board of Singapore Exchange Securities Trading Limited (the “SGX-ST”) are currently ongoing. A listing application to the SGX-ST and various applications to the Monetary Authority of Singapore have been submitted in connection with the IPO and these applications are currently under review. The details of the terms of the IPO are still being finalised and the proposed establishment and listing of the REIT will be subject to, among other things, market conditions, the relevant regulatory and other approvals being obtained and the execution of definitive agreements by the relevant parties.

The Company will make the relevant announcements in accordance with the SGX-ST Listing Manual at the appropriate time.
...

http://infopub.sgx.com/Apps?A=COW_CorpAn...uddies.com

Keppel to list data centre fund
KYLAR LOUISSKIAN THE AUSTRALIAN NOVEMBER 11, 2014 12:00AM

SINGAPORE’S Keppel Corporation conglomerate will list a second real estate investment trust, nearly a decade after floating Keppel REIT on the Singapore Stock Exchange.

The Keppel RC REIT is to be a specialist fund with eight data centre properties in Asia and Europe including the Gore Hill data centre in Sydney and the iseek centre in Brisbane.

The company acquired both data centres in 2011 jointly with Securus, a Singaporean sharia-compliant fund and it has assessed other opportunities. Keppel Telecommunications & Transportation chief executive Thomas Pang said there had been a “surge in demand” for data centres.

“Increasingly, these new-generation data centres are also required to adhere to high environmental and security standards, areas which require significant knowledge and investment,” he said. Singaporean groups have been snapping up local properties for trusts in their home markets.

Will it be like a K Green Trust?


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The marketing pitch is not quite correct as there is already a Australian focus peer listed on ASX... anyway, my understanding is that the DC Reit yield could be lower than 5%...

http://www.businesstimes.com.sg/companie...entre-reit

Keppel T&T pushes ahead with IPO of data centre Reit
The initial portfolio of Keppel DC Reit is expected to comprise eight data centre properties in the Asia-Pacific and Europe

By
Angela Tanangelat@sph.com.sg
KEPPELT&T111114.jpg Keppel Telecommunications & Transportation (Keppel T&T) is pushing ahead with the planned multi-million dollar initial public offer (IPO) of its data centre real estate investment trust (DC Reit), the first of its kind in Asia. PHOTO: KEPPEL T&T
11 Nov5:50 AM
Singapore

KEPPEL Telecommunications & Transportation (Keppel T&T) is pushing ahead with the planned multi-million dollar initial public offer (IPO) of its data centre real estate investment trust (DC Reit), the first of its kind in Asia.

Bankers said Keppel T&T, the

There is a typo in circular despatched to shareholders, in paragraph 3(b).

“Strengthen the Group’s balance sheet”, should be from 77% to 22% instead of 77% to 60%, and the amended sentence should read as follows:

“The net gearing is estimated to decrease from 77% to 22%, assuming the Proposed Listing of Keppel DC REIT and the Proposed Divestment had been completed on 31 December 2013”.

http://www.valuebuddies.com/thread-6006.html

http://infopub.sgx.com/FileOpen/KLL.Subs...eID=326189

keppel land subscribe 4.9% of KEP DC reit.

Keppel Land $ > Keppel DC REIT $ > KPTT $ (maybe div) > Keppel Corp

feels like an IPT to me.




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If the REIT is $500M, they are only paying $25M to have a vested interest 5%.

And they cash out the data centres with a bumper sale.

Many REIT managers take up some stake to convince the cornerstone investors. If I am a REIT manager, and I can get away with it, I wont put $1 into the REIT :-)

(27-11-2014, 09:34 AM)Contrarian Wrote: If the REIT is $500M, they are only paying $25M to have a vested interest 5%.

And they cash out the data centres with a bumper sale.

Many REIT managers take up some stake to convince the cornerstone investors. If I am a REIT manager, and I can get away with it, I wont put $1 into the REIT :-)

If REIT manager/sponsor dont own >30%, will be kicked out if shareholders not happy. Then no more capital recycling.