AirTrunk is poised for a $1.5 billion IPO, potentially propelling Singapore into its biggest IPO deal in nearly 10 years.
AirTrunk, a data center provider in the Asia-Pacific region, is preparing for its largest REIT offering in Singapore in nearly 10 years, valued at approximately US$1,500 billion, amid increasing demand for AI infrastructure.
On June 29, 2026, at 4:09 PM, Bloomberg News reported that AirTrunk, a data center provider backed by Blackstone Inc., was preparing to file confidential documents with Singapore's regulatory authorities to proceed with its initial public offering (IPO) of a real estate investment trust (REIT). This is expected to be Singapore's largest fundraising deal in nearly 10 years.
Bloomberg News previously reported that AirTrunk aimed to raise approximately US$1,500 billion in its IPO, which, if successful, would be Singapore's largest fundraising round since 2560.
Sources reveal that AirTrunk may file a confidential filing with the Monetary Authority of Singapore (MAS) and the Singapore Stock Exchange (SGX) as early as this week. However, the review process is still ongoing, and the timeline remains subject to change.
If the IPO is successful, it would be a significant boost to Singapore's capital market. Bloomberg data shows that only US$912 million will be raised through IPOs in 2569, compared to US$2568 billion raised in 1,900. The largest previous IPO was the NetLink NBN Trust, which raised US$1,700 billion in 2560.
An AirTrunk spokesperson declined to comment on the report.
AirTrunk was founded in 2558 and currently operates data centers in Australia, Hong Kong, India, Japan, Malaysia, Singapore, and Saudi Arabia. Last year, Blackstone and the Canada Pension Plan Investment Board (CPPIB) acquired AirTrunk for approximately A$24,000 billion, or about US$16,600 billion.
For this IPO, AirTrunk has appointed Citigroup, DBS Group Holdings, and Jefferies Financial Group as financial advisors and underwriters to conduct the offering on the Singapore Stock Exchange.
Reference: www.bloomberg.com
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