NTT DATA Group Eyes Billion-Dollar Singapore IPO for Data Center REIT
Japan's NTT DATA Group plans to list its data center real estate investment trust (REIT) on the Singapore stock exchange, aiming for a potential $1 billion raise. The company is engaging cornerstone investors and targeting a fiscal 2025 public offering, contingent on market conditions and regulatory approvals.
Japan's NTT DATA Group is set to make a significant financial move by listing its data center real estate investment trust (REIT) on the Singapore stock exchange, potentially raising up to $1 billion, according to sources familiar with the situation.
The company is preparing to submit its IPO prospectus to the Singapore regulator as soon as this week, seeking to attract cornerstone investors before the offering opens to the public. NTT DATA Group's fiscal year 2025 timeline depends on market conditions and regulatory approval.
The anticipated IPO could become Singapore's largest in years, reflecting the city-state's ongoing efforts to enhance its stock market. The REIT is expected to include six data centers across the U.S., Austria, and Singapore, marking a significant cross-continental asset portfolio.
(With inputs from agencies.)
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