NTT has lodged preliminary prospectus to list REIT on Singapore Exchange
By Yantoultra Ngui
SINGAPORE (Reuters) -Japan's Nippon Telegraph and Telephone Corp (NTT) has lodged a preliminary initial public offering prospectus for its data centre real estate investment trust NTT DC REIT on Singapore's stock exchange, according to information published on the Monetary Authority of Singapore's website on Friday.
Reuters reported on Wednesday that the company was looking to lodge the prospectus with the Singapore regulator as early as this week and list on the Singapore Exchange as early as July, citing two sources with knowledge of the matter.
The prospectus did not disclose the IPO amount but the two sources had said in January it could be worth up to $1 billion in what would be the largest in Singapore in several years. The prospectus also did not say when the IPO would be launched.
In an emailed response to Reuters on Friday, NTT said the IPO amount and timetable will be available in the final version of the prospectus on its registration.
The last listing of similar size was a $977 million IPO for Digital Core REIT in 2021, LSEG data showed.
The IPO portfolio comprises six data centre assets located in the United States, Austria and Singapore, with a total appraised value of about $1.6 billion, according to the preliminary prospectus.
The sponsor of NTT DC REIT is NTT Ltd, which is part of Japanese telecommunication giant NTT.
Cornerstone investors include Singapore sovereign wealth fund GIC and private investment and asset management firms such as AM Squared Ltd and Viridian Asset Management Ltd, the prospectus showed.
Cornerstone investors are large institutional investors that subscribe to an IPO offering before it is open to the public.
There is growing interest from companies seeking to list on the Singapore Exchange, after the city-state announced measures in February to strengthen its equities market, including a 20% tax rebate for primary listings.
Hong Kong-listed China Medical System said on Tuesday it had applied for a secondary listing of its shares on the Singapore Exchange.
IPO proceeds raised on the Singapore Exchange surged more than five-fold to $331.6 million in the first half of this year, from $59.3 million the same period a year ago, LSEG data showed.
Bank of America and UBS are the joint issue managers, global coordinators, bookrunners and underwriters of the IPO, the prospectus showed.
Mizuho is the joint global coordinator, bookrunner and underwriter, while Citigroup and DBS are joint bookrunners and underwriters.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
34 minutes ago
- Yahoo
Startups Weekly: Tech and the law
Welcome to Startups Weekly — your weekly recap of everything you can't miss from the world of startups. Want it in your inbox every Friday? Sign up here. Before this newsletter takes a break for the Fourth of July next week, here are the startup stories and funding rounds that caught our eye over the last few days, which have been quite busy. This week brought us lawsuit updates, M&As, and a combination of both. AI agents: Data cybersecurity company Rubrik acquired Predibase to accelerate the adoption of AI agents by its users. The startup, which helps companies fine-tune AI models, had raised some $28 million in venture capital. Deal amount wasn't disclosed but was reportedly sizable. Sailing: German startup Kadmos, which had raised $38 million in external capital for its salary payment platform for seafaring workers, got acquired by NYK Line as part of the Japanese shipping firm's efforts to expand its fintech services. Red herring? Embattled AI music startup Suno announced the acquisition of WavTool, a browser-based AI digital audio workstation, in a deal that actually happened a few months ago but that it chose to disclose on the heels of yet another copyright lawsuit. Unstable ground: Getty Images dropped its primary lawsuit against Stability AI, the startup behind AI image generator Stable Diffusion, but other lawsuits continue, both in the U.S. and in the U.K. Weathering the storm: Despite headwinds, Bill Gates-backed startup Airloom Energy is pressing on and started building its first wind power plant in Wyoming. Another week, another $300 million round — sometimes at wildly different valuations, even for the same company. Meanwhile, the small deals keep things interesting, too. Same amount, new valuation: Harvey AI raised a $300 million Series E co-led by Kleiner Perkins and Coatue. This comes only four months after Sequoia led a $300 million Series D at a $3 billion valuation into the AI-enabled legal tech startup, which is now valued at $5 billion. AI scribe: Abridge, an AI startup automating medical notes, secured a $300 million Series E led by a16z at a $5.3 billion valuation. Crypto predictions: Blockchain-based prediction market platform Kalshi raised a $185 million round at a $2 billion post-money valuation, while rival Polymarket is reportedly working on closing a $200 million round at a pre-money valuation around $1 billion. Money in the bank: Finom, a challenger bank that targets SMBs across Europe, raised some $133 million in a Series C round of funding that comes in addition to the $105 million in growth funding it secured from General Catalyst's Customer Value Fund a few weeks ago. Flying high: Indian drone startup Raphe mPhibr raised $100 million in an all-equity Series B round led by General Catalyst. Its customers include the Indian Army, Navy, and Air Force, as well as armed police forces. Easy dictation: AI-powered dictation app Wispr Flow locked in $30 million in a Series A that brought its total funding to $56 million. The company also released an iOS app earlier this month. Upcycled: Novoloop, a startup that upcycles waste plastic, raised a $21 million Series B to finalize the design and begin the construction of its first commercial-scale plant. Data processing for AI: Eventual, a startup inspired by a data-processing problem its founders encountered at Lyft, raised two rounds of funding totaling $27.5 million within eight months. AI voices: Synthflow AI, a Berlin-based no-code platform that lets enterprises build and deploy customized white-label voice AI customer service agents, raised a $20 million Series A led by Accel. As the name suggests: Better Auth, the third Ethiopian startup to graduate from YC, raised $5 million in seed funding. Its open source framework promises to simplify how developers manage user authentication and has quickly become popular. Eternal light: Space startup Lux Aeterna came out of stealth with $4 million in pre-seed funding and the ambition to launch a reusable satellite in 2027. After a two-year break from public life, seasoned early-stage investor, entrepreneur, and author Brad Feld is back with his ninth book, 'Give First.' TechCrunch interviewed him about it and more.
Yahoo
35 minutes ago
- Yahoo
Aston Martin Unveils Ultra-Luxury Private Residence in Tokyo's Most Desirable Location
Aston Martin Unveils Ultra-Luxury Private Residence in Tokyo's Most Desirable Location originally appeared on Autoblog. If the article detailing Aston Martin's residence tower in Miami left you wanting more, you're in luck! The British automaker recently revealed N°001 Minami Aoyama, Tokyo, its first ultra-luxury residence in Asia, and what a residence it is. View the 3 images of this gallery on the original article Created in partnership with Japanese luxury real estate developer VIBROA Inc., the four-story residence is situated in Tokyo's Omotesandō neighborhood, a renowned shopping district located between Harajuku and Aoyama. Right away, the façade stands out thanks to its vertical metal louvers, whose appearances change as the sun rises and falls in the sky, reflecting off their surface. Glimpses of the interior can also be seen between the louvers. The first floor houses the spa facilities, including a sauna and spa bath with natural Hinoki timber cladding and a specially designed audio system. Right next door is a landscaped private terrace, with its own outdoor Onsen pool and seating. Oh, and about that audio system, the entire residence has a Bowers & Wilkins Audio System wired in, so your tunes can play in any room. View the 3 images of this gallery on the original article The basement takes advantage of the site's sloping nature to house a gym, wine cellar, a golf simulator system, a private spa, and three en-suite bedrooms. The two-car garage, or "automotive gallery" as Aston Martin refers to it, features adaptive lighting and a wave-textured metal ceiling. The cars can also be from within the house, thanks to the glass panel that separates the garage from the lounge and meeting room on the ground floor. Natural light was reportedly a high priority when building the residence, and as you ascend to the rooftop terrace, the materials transition from dark to light "to mirror the journey towards the light." The terrace contains a kitchen facility, a section of planted green roof, and tremendous views of the Tokyo Tower. Oh, and speaking of that staircase, Aston Martin and VIBROA Inc. call it an "origami staircase," made from folded steel and illuminated by a pendant chandelier. View the 3 images of this gallery on the original article The two companies also curated some very fitting Italian furniture for the residence, ranging from bespoke wardrobes to kitchen cabinets by Italian brand Molteni&C. The kitchen sports black lava stone surfaces and gray oak cabinetry, with "nebula steel" and pewter metal accents throughout. If you're worried that these are all off-the-shelf pieces, fret not, as reportedly many of the pieces were custom-designed under Aston Martin's direct supervision. I'm a design nerd, whether it's modern minimalism, 1970s kitsch, or everything in between. I was already entranced by Aston Martin's Miami residences, but their Japanese residence knocks it out of the park. It's clean, yet it doesn't feel empty. The various materials and colors used throughout, like the wood and dark metals, create a cozy, modern, and classy ambiance simultaneously. View the 6 images of this gallery on the original article Aston Martin and VIBROA Inc. don't mention a price tag or owner, of course, but considering the prices of their Miami residences, and the fact that this was built as a private residence, it's probably a figure that us mere mortals can't comprehend. Aston Martin Unveils Ultra-Luxury Private Residence in Tokyo's Most Desirable Location first appeared on Autoblog on Jun 27, 2025 This story was originally reported by Autoblog on Jun 27, 2025, where it first appeared.
Yahoo
an hour ago
- Yahoo
Bloomberg Invest Hong Kong Highlights
Held in Hong Kong, Bloomberg Invest convenes allocators, dealmakers, and investors from across Asia. Powered by one of the world's largest newsrooms, the 2025 event highlighted the most influential voices discussing the impact of tariffs on markets, opportunities across private assets, and tensions over US-China tech. Sign in to access your portfolio
