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AirTrunk to Delay IPO Amid Rising Interest Rates
The delay follows a tech and AI selloff and leaves the data-centre operator targeting a listing by early next year.
- On Tuesday, Blackstone-backed AirTrunk postponed its planned Singapore REIT IPO that could raise about $1.5 billion, citing a tech and AI stock selloff rattling markets.
- Asian equities slid to more than two-month lows on Tuesday, led by a rout in chipmakers that renewed investor scrutiny of the AI-linked trade.
- The delay follows similar setbacks this month, as Philippine telecommunications firm PLDT pushed back its data center REIT IPO and Australian neocloud firm Firmus canceled its own listing.
- AirTrunk has not decided on a specific launch date but is aiming to complete the listing by early next year, according to sources with knowledge of the matter.
- Valued at about $15 billion, the REIT was expected to be one of Southeast Asia's largest listings, underscoring the significance of the postponement for regional capital markets.
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Data Center Operator AirTrunk Is Said to Delay $1.5 Billion ...
·New York, United States
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Total News Sources11
Leaning Left0Leaning Right4Center4Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
50% Right
C 50%
R 50%
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