Keppel DC REIT (SGX: AJBU) (KDC REIT) is a pure-play data centre REIT listed on the Singapore Exchange. The REIT invests in a diversified portfolio of income-producing real estate assets which are used primarily for data centre purposes.

On 23 October 2019, Keppel DC REIT held an EGM seeking unitholders approval to acquire Keppel DC Singapore 4 (KDC SPG 4) and DataCentre One (DC1).

Source: KDC REIT EGM slides

Keppel DC REIT had raised S$478.2 million through a private placement of 135 million units at an issue price of S$1.744 per unit, and a preferential offering of about 142 million units at an issue price of S$1.71 to fund the acquisition of the two data centres. The preferential offering was well received by unitholders with an oversubscription of 9.3 times.

Here are the seven things I learned from the 2019 Keppel Data Centre REIT EGM:

1. The acquisitions for