Business
AirTrunk hires banks for Singapore IPO that could raise over $1 billion, sources say
AirTrunk hires banks for Singapore IPO that could raise over $1 billion, sources say
About this update from Ntt Dc Reit
By Yantoultra NguiAirTrunk has appointed banks including Citigroup NYSE:C and DBS SGX:D05 for a potential data centre real estate investment trust initial public offering in Singapore that could raise more than $1 billion later this year, according to two sources with knowledge of the matter.IFR reported on Monday that the data centre operator was planning a Singapore listing that could raise up to $1.5 billion.A deal of that size would be bigger than the IPO of NTT DC REIT SGX:NTDU, which raised $773 million in Singapore last year.AirTrunk is backed by U.S.-based investment firm Blackstone NYSE:BX. In 2024, Blackstone and Canada Pension Plan Investment Board acquired the company in a deal valuing it at A$24 billion ($16.6 billion). AirTrunk has data centres in Hong Kong, Japan, Malaysia and Singapore.Blackstone, Citi and DBS declined to comment. AirTrunk did not respond to a request seeking comment.($1 = 1.4457 Australian dollars)