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Yahoo
4 hours ago
- Business
- Yahoo
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.
Yahoo
9 hours ago
- Business
- Yahoo
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 the Singapore 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. NTT did not immediately respond to an email seeking comment on Friday. 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. Sign in to access your portfolio
Reuters
9 hours ago
- Business
- Reuters
NTT has lodged preliminary prospectus to list REIT on Singapore Exchange
SINGAPORE, June 27 (Reuters) - Japan's Nippon Telegraph and Telephone Corp (NTT) (9432.T), opens new tab has lodged a preliminary initial public offering prospectus for its data centre real estate investment trust NTT DC REIT on the Singapore 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. NTT did not immediately respond to an email seeking comment on Friday. The last listing of similar size was a $977 million IPO for Digital Core REIT ( opens new tab 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 (9613.T), opens new tab, 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 ( opens new tab, 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 ( opens new tab 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.
Zawya
9 hours ago
- Business
- Zawya
NTT has lodged preliminary prospectus to list REIT on Singapore Exchange
SINGAPORE - 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 the Singapore 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. NTT did not immediately respond to an email seeking comment on Friday. 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. (Reporting by Yantoultra Ngui; Editing by Jacqueline Wong and Tom Hogue)
Reuters
2 days ago
- Business
- Reuters
Japan's NTT DATA Group targets July listing of data centre REIT on Singapore exchange
SINGAPORE, June 25 (Reuters) - Japan's NTT DATA Group (9613.T), opens new tab could list its data centre real estate investment trust on the Singapore stock exchange as early as July, two sources with knowledge of the matter said, in a deal that could raise up to $1 billion. The company is looking to lodge its IPO prospectus with the Singapore regulator as early as this week or early next week, the sources said on Wednesday, and was in the process of engaging cornerstone investors. The sources declined to be identified as the information is confidential. Cornerstone investors are large institutional investors that subscribe to an IPO offering before it is open to the public. "We are aiming to go public during FY2025. However, the specific timing will be determined based on market conditions," NTT DATA Group said in an emailed response to Reuters on Wednesday. Its 2025 fiscal year runs from April 2025 to March 2026. "Additionally, in order to be listed, we need to undergo the review and approval process by the Singapore Stock Exchange, and the approval timing is not yet certain," the company said, adding that it had not yet disclosed the planned IPO amount. The listing, if it proceeds, would be the biggest in Singapore since the $977 million IPO of Digital Core REIT ( opens new tab in 2021, LSEG data showed. 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 ( opens new tab said on Tuesday it had applied for a secondary listing of its shares on the Singapore Exchange. NTT's data centre REIT is expected to include four data centres in the U.S., one in Austria and one in Singapore, one of the sources said on Wednesday. ($1 = 145.2700 yen)
