Temasek Seeks to Raise US$100 Mln by Selling 3.7% Stake in K-REIT
SINGAPORE--Singapore state-investment company Temasek Holdings Pte Ltd. is seeking to raise US$100 million by selling its entire 3.7% stake in Keppel REIT or K-REIT, people with knowledge of the deal said Monday.
K-REIT is one of the largest real estate investment trusts listed on the Singapore Exchange with an asset size of more than S$6.8 billion as of Aug. 1.
The share sale is at a 2.9% discount to Monday's closing price of S$1.230, one of the persons said.
JP Morgan & Chase is advising Temasek on the sale.