Blackstone-backed AirTrunk eyes September, October launch for US$1.5 billion Singapore Reit IPO, sources tell Reuters

Blackstone-backed data centre operator AirTrunk is targeting a September or October launch for a Singapore Reit IPO that could raise about US$1.5 billion, according to sources. The company has filed confidentially and begun meetings with potential cornerstone investors, amid surging global demand for data centres driven by cloud computing and AI.

Blackstone-backed AirTrunk eyes September, October launch for US$1.5 billion Singapore Reit IPO, sources tell Reuters Timing, size of the deal could change, depending on market conditions SINGAPORE Blackstone-backed AirTrunk is targeting a September or October launch for an initial public offering of a Singapore real estate investment trust that could raise about US$1.5 billion, two people with direct knowledge of the matter said. The data centre operator has filed confidentially for the listing and has started meetings with potential cornerstone investors, the people said. The planned IPO https://www.businesstimes.com.sg/international/global/data-centre-giant-airtrunk-bets-big-singapore-mulls-reit-ipo-among-other-capital-raising-options would come as global investors pour money into data centres because of rising demand from cloud computing and AI companies. The timing and size of the deal could change, depending on market conditions, the people said. The sources declined to be named because the information is private. AirTrunk said in an e-mailed response to Reuters on Thursday Jul 16 that it has no comment at this time. AirTrunk runs data centres across the Asia-Pacific region, according to its website. Blackstone and Canada Pension Plan Investment Board agreed in 2024 to buy the company in a deal that valued it at more than A$24 billion US$16.77 billion . REUTERS Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free. Share with us your feedback on BT's products and services TRENDING NOW /pulse?ref=trending-now Frasers Property-led consortium outbids two others with S$2.13 billion offer for Bayshore Drive mixed-use site GovTech retrenches 93 staff in first phase of agency’s 2-year workforce transformation A new kind of ‘ceasefire’ between US and Iran where talks, strikes are part of the same process Philippines’ income upgrade hides grim reality for most Filipinos