Update: Keppel Corp launches bid for rest of Keppel Land
Add BT as a preferred source
Latest updates:
KEPPEL Corporation on Friday launched a voluntary unconditional cash offer for all the remaining shares of its real estate subsidiary, Keppel Land.
Currently, KepCorp owns 54.6 per cent of KepLand.
The base offer price is S$4.38 for each KepLand share. This values Kepland at about S$6.8 billion and represents a premium of 25 per cent, 29 per cent and 28 per cent over the one-month, three-month and six-month volume weighted average prices (VWAPs) of Kepland shares respectively.
KepCorp will raise its offer price to S$4.60 for each KepLand share, if it receives the 90 per cent acceptance threshold required to exercise its rights of compulsory acquisition.
This values KepLand at S$7.1 billion and represents a premium of 31 per cent, 35 per cent and 35 per cent over the one-month, three-month and six-month VWAPs of Kepland shares respectively.
The offer will be funded through a combination of internal cash and borrowings of KepCorp.
KepCorp does not intend to revise the offer price.
Earlier this week:
Share with us your feedback on BT's products and services
TRENDING NOW
Orchard plot, Jurong East EC, Raffles Town Club among 10 new housing sites in H2 GLS plan
Singapore among countries facing proposed US levy of at least 10% over forced labour imports
Johor property old hand KSL readies family handover amid market boom
Land for 4,745 private homes supplied in H2 2026 GLS confirmed list, including Jurong Lake District white site
