Blackstone-backed data center operator AirTrunk is preparing to file confidentially for a Singapore IPO as a real estate investment trust, potentially marking the city's largest public listing in years.
AirTrunk is moving toward a confidential filing with Singapore regulators for what could become the biggest IPO on the island in recent years, according to sources familiar with the plan.
The data center operator, backed by global investment firm Blackstone, intends to list as a real estate investment trust (REIT). The confidential filing process allows companies to prepare registration statements privately before public disclosure, streamlining the path to market.
Data center operators have attracted significant investor interest as artificial intelligence infrastructure demand surges globally. AirTrunk operates facilities across Asia-Pacific and serves cloud providers and enterprises.
A major Singapore listing would bolster the city's capital markets as it competes for regional IPO activity. The specific timing and valuation details remain unclear, though sources indicate the filing could come soon.
Confidential filings typically precede public announcements by several weeks. AirTrunk and Blackstone have not publicly commented on the plans.
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