NTT DC Reit opens 3 per cent above IPO price on SGX debut
SINGAPORE - NTT DC real estate investment trust (Reit), the largest Reit listing on the Singapore Exchange's (SGX) mainboard in 10 years, made a lukewarm debut on July 14.
The counter opened at US$1.02 at 2pm, slightly above its initial public offering (IPO) price of US$1.
It peaked at US$1.03 about five minutes into trading, before falling back to US$1.02 after 46.6 million shares changed hands at 2.30pm.
NTT DC Reit's primary backer NTT Ltd is part of Japan's telecommunication giant Nippon Telegraph and Telephone Group.
It is the third pure-play data centre Reit listed on SGX, after Keppel DC Reit and Digital Core Reit.
It comprises six operational data centres in the US, Austria and Singapore, which are together valued at around US$1.57 billion (S$2 billion).
NTT DC Reit's trading debut came four days after its IPO closed with enthusiastic support.
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It offered 599.89 million units altogether, with around 569.9 million units for institutional and international investors, and 30 million units for the public in Singapore.
The public tranche of 30 million units, priced at $1.276 per unit, was about 9.8 times oversubscribed.
Overall, the IPO was about 4.6 times oversubscribed.
NTT Ltd remains the largest stakeholder with a 25 per cent stake, followed by Singapore's sovereign wealth fund GIC, which has a 9.8 per cent stake.
NTT DC's listing comes at a time when SGX is beginning to see stronger interest from firms keen to list here after a sluggish first half in 2025.
Local software firm Info-Tech Systems debuted on the mainboard on July 4.
Local interior fit-out firm Lum Chang Creations also launched its IPO on July 9, and is expected to begin trading on the Catalist board on July 21.
Investors can also look forward to another listing, after mainboard-listed accommodation provider Centurion Corp announced its spin-off Reit,
Centurion Accommodation Reit , on July 14.
Its $1.8 billion portfolio comprises 14 properties in Singapore, Australia and the United Kingdom.
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