Australia-based data center operator AirTrunk has appointed Citigroup, DBS Group Holdings and Jefferies Financial Group to help prepare for a real estate investment trust (REIT) listing in Singapore that could raise US$1.5 billion, according to Bloomberg quoting people familiar with the matter. The initial public offering (IPO) might take place some time this year, the people who declined to be named said.
Discussions are ongoing on details such as the size and timing of the IPO, with the possibility of more banks joining.
An AirTrunk representative did not offer any immediate comment while all the banks declined to comment. Blackstone and Canada Pension Plan Investment Board acquired the company for A$24 billion in December 2024. Blackstone also declined to comment.
AirTrunk operates data centres in Australia, Malaysia, Singapore, Hong Kong and Japan.