AirTrunk hires banks for Singapore IPO that could raise over $1 billion, sources say

NTT DC Reit

07/04/2026 02:33

By Yantoultra Ngui

SINGAPORE, April 7 (Reuters) - AirTrunk has appointed banks including Citigroup C.N and DBS DBSM.SI 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 NTTD.SI, which raised $773 million in Singapore last year.

AirTrunk is backed by U.S.-based investment firm Blackstone BX.N. 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)

(Reporting by Yantoultra Ngui; Editing by Lincoln Feast.)

((Yantoultra.Ngui@thomsonreuters.com;))