Blackstone-backed AirTrunk is close to a confidential Singapore REIT filing, with earlier reports indicating the offering could raise about $1.5 billion and rank as the city-state’s largest IPO since 2017.
AirTrunk is close to confidentially filing for a Singapore REIT IPO, Bloomberg reported on June 29, citing people familiar with the matter. The Blackstone-backed data center operator had earlier been reported as targeting about $1.5 billion, a size that could make it Singapore’s largest IPO since 2017. The prospective listing would underline investor appetite for digital infrastructure assets and could further strengthen Singapore’s role as a regional hub for data center-related capital markets activity.