Latest news with #NTTDCReit
Straits Times
7 hours ago
- Business
- Straits Times
Japanese telco giant NTT weighs data centre Reit IPO on SGX mainboard
NTT DC Reit's portfolio will comprise six data centre assets across three markets: four in the US, one in Austria and the sixth in Singapore. ST PHOTO: BRIAN TEO SINGAPORE - After a spate of delistings from its mainboard this year, the Singapore Exchange (SGX) could be looking at a much-needed rebound with a potential real estate investment trust (Reit) listing by Japanese telecommunications group Nippon Telegraph and Telephone (NTT). NTT Data Group, a subsidiary of NTT which offers technology and data solutions, has filed a preliminary prospectus with the Monetary Authority of Singapore (MAS) for a Reit listing of its data centres on the SGX mainboard. NTT DC Reit's portfolio will comprise six data centre assets across three markets: four in the US, one in Austria and the sixth in Singapore with a total appraised value of US$1.6 billion (S$2 billion). The offering price for the Reit will be US$1 per unit. Among the Reit's cornerstone investors is Singapore's sovereign wealth fund GIC, which will subscribe for 100.88 million units valued at around US$100.88 million. Other investors include AM Squared, Hazelview Securities, Pinpoint Asset Management and Viridian Asset Management. If successful, NTT DC Reit would be the third data centre Reit to list in Singapore, following Keppel DC Reit and Digital Core Reit. The Japanese telco is among the world's largest data centre providers with a portfolio spanning 2,200 MW2 of IT power globally. It said in its prospectus that there is 'significant growth in the global data centre market with further headroom for expansion'. According to a report by Fortune Business Insights in June, the global data centre market size was valued at US$242.7 billion in 2024, and is expected to grow to US$584.8 billion by 2032, with an annual growth rate of 11.7 per cent. Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
13 hours ago
- Business
- Business Times
Japan's NTT files billion-dollar Reit listing with MAS; IPO set to be SGX's biggest in four years
[SINGAPORE] Japanese telco Nippon Telegraph and Telephone (NTT) is spinning off some of its data centres into a Singapore-listed real estate investment trust, or S-Reit, marking what is likely to be the largest Singapore listing in four years. The last company to list at this size was the US$977 million initial public offering (IPO) of Digital Core Reit in 2021. The portfolio will comprise six of its data centre assets, initially indicated to be transferred to the Singapore Reit called NTT DC Reit for about US$1.6 billion. The initial portfolio of NTT DC Reit comprises six data centres – four located in the US, one in Austria and one in Singapore. In its prospectus lodged with the Monetary Authority of Singapore (MAS) on Friday (Jun 27), NTT said that the manager was listing as it believed there is significant growth in the global data centre market with further headroom for expansion. This includes consistent growth in data centre pricing globally, alongside increasing capacity absorption and declining vacancies as well as a surge of capital allocation into data centres alongside increasing demand and consistent pricing growth. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The IPO portfolio is also strategically diversified across key global markets, including the top 10 markets in the US and Asia-Pacific. NTT has a market capitalisation of around US$90 billion. Cornerstone investors include Singapore's sovereign wealth investor GIC, AM Squared, Pinpoint Asset Management and Ghisallo Master Fund. NTT has one of the largest global data divisions, covering more than 20 countries and regions across the Americas, Asia-Pacific, Europe, the Middle East and Africa. NTT's proposed listing comes after a subdued market in recent years, where delistings have outpaced new listings on the local bourse, with more Singapore companies choosing to list on global exchanges. It also comes after the MAS' equities market review group put forward several proposals to boost the local equity market earlier this year. The proposals by the group, which was set up last August, include introducing tax incentives to spur more listings and a S$5 billion investment fund for asset managers to improve the bourse's liquidity.
