AirTrunk hires banks for Singapore IPO that could raise over US$1 billion: sources
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AirTrunk has engaged banks including Citigroup and DBS for a potential IPO in Singapore, aiming to raise over US$1 billion. The listing could reach up to US$1.5 billion, surpassing NTT DC REIT's US$773 million IPO last year. Backed by Blackstone, AirTrunk was valued at A$24 billion in a 2024 acquisition. The company operates data centres in Hong Kong, Japan, Malaysia, and Singapore.
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