SINGAPORE: Blackstone-backed data centre operator AirTrunk is close to filing confidentially for an initial public offering (IPO) of a real estate investment trust in Singapore, according to sources.
Bloomberg News reported in April that AirTrunk is seeking to raise about US$1.5bil (S$1.9bil) from the offering.
This will make it the biggest in Singapore since 2017.
The company may submit a draft registration to the Monetary Authority of Singapore and the Singapore Exchange as soon as this week, the sources said, asking not to be identified because the information is not public.
Deliberations are ongoing and timings could still change, the sources added.
An IPO of that size would be a major boost to Singapore, where a total of US$912mil has been raised in first-time share sales to date in 2026 after a US$1.9bil overall tally in 2025.
This is according to data compiled by Bloomberg.
NetLink NBN Trust raised US$1.7bil in 2017.
A representative for AirTrunk declined to comment.
Founded in 2015, AirTrunk operates data centres in Australia, Hong Kong, India, Japan, Malaysia, Singapore and Saudi Arabia, according to its website.
Blackstone and the Canada Pension Plan Investment Board acquired the company for A$24bil (S$21.3bil).
Furthermore, AirTrunk is working with Citigroup, DBS Group Holdings and Jefferies Financial Group on the IPO. — Bloomberg
