Japan's Nippon Telegraph and Telephone Corp filed documents for a major stock listing on Singapore's exchange. The telecom company wants to list a data center real estate investment trust next month. Market sources say the offering could reach $1 billion and become Singapore's largest debut this decade. The trust holds six data center properties valued at $1.57 billion across three continents. Singapore's sovereign wealth fund GIC has agreed to invest more than 100 million units as a cornerstone investor.
The data centers span North America, Europe and Asia Pacific regions. Three properties sit in California with one each in Virginia, Vienna and Singapore. The portfolio generates 90.7 megawatts of total capacity as of December 31st. Revenue climbed to $161 million in the final nine months of last year from $116.5 million during the same period previously. The trust reported a $6.1 million loss for the nine-month period compared to a $29.5 million loss the year before.
Several major investment firms joined the cornerstone group alongside GIC. Hong Kong's AM Squared Limited and Viridian Asset Management committed funds through their investment vehicles. US firm Ghisallo Capital Management and Toronto's Hazelview Securities also participated. Singapore's Pinpoint Asset Management and UBS AG rounded out the cornerstone investors. Major banks like Merrill Lynch, UBS, Mizuho Securities, Citigroup and DBS Bank serve as underwriters and coordinators for the listing.
The data centers span North America, Europe and Asia Pacific regions. Three properties sit in California with one each in Virginia, Vienna and Singapore. The portfolio generates 90.7 megawatts of total capacity as of December 31st. Revenue climbed to $161 million in the final nine months of last year from $116.5 million during the same period previously. The trust reported a $6.1 million loss for the nine-month period compared to a $29.5 million loss the year before.
Several major investment firms joined the cornerstone group alongside GIC. Hong Kong's AM Squared Limited and Viridian Asset Management committed funds through their investment vehicles. US firm Ghisallo Capital Management and Toronto's Hazelview Securities also participated. Singapore's Pinpoint Asset Management and UBS AG rounded out the cornerstone investors. Major banks like Merrill Lynch, UBS, Mizuho Securities, Citigroup and DBS Bank serve as underwriters and coordinators for the listing.
