AirTrunk, the data center operator acquired by Blackstone in 2024, is preparing for a potential Singapore REIT listing that could raise about $1.5 billion, according to media outlets. Citigroup, DBS Group Holdings and Jefferies Financial Group have been selected to help arrange the initial public offering, which could take place as soon as this year, though details including size and timing remain under consideration and may change.
AirTrunk operates facilities across Australia, Hong Kong, Japan, Malaysia and Singapore, and was acquired by Blackstone and the Canada Pension Plan Investment Board in a deal valued at about A$24 billion ($16.6 billion).
