NTT DC REIT, a Singapore-based data center real estate investment trust, announced plans to raise approximately $773 million through an initial public offering (IPO) on its domestic exchange. The REIT is sponsored by NTT Ltd., a subsidiary of the Japanese telecommunications giant Nippon Telegraph and Telephone Corporation (NTT). The trust owns six data centers located in Austria, Singapore, and the United States, collectively valued at $1.57 billion.
The IPO is scheduled to issue 599.89 million units, each priced at $1 or 1.276 Singapore dollars. Key institutional investors, known as cornerstone investors, will hold a combined 16.8% stake. Among these investors, Singapore's sovereign wealth fund GIC is a major participant, owning 9.8% of the shares, making it the second-largest investor after NTT Ltd., which retains a 25% stake.
