Data centre investment trust NTT DC REIT is set to list on the Singapore Stock Exchange on 14 July, after it completes its GIC-backed book build to raise around US$864m (€734m).
According to documents lodged with the Monetary Authority of Singapore, Singapore’s GIC is a cornerstone investor, securing 101m shares for US$101m. Other investors include AM Squared, Hazelview Securities, Pinpoint Asset Management and Viridian Asset Management.
After allotment, NTT Ltd, part of Japanese telecommunication group NTT Group, is expected to retain a holding of around 20% in NTT DC REIT.
NTT DC REIT will own six data centre assets – four of which are in the US, one in Austria and the sixth in Singapore. These freehold assets with long-dated leases, are valued at about US$1.6bn.
It will be the Singapore Exchange’s third pure data centre real estate investment trust. The other two are Keppel DC REIT and Digital Core REIT.
NTT said the group required significant funding to expand its data centre presence and that its growth trajectory was dependent on its ability to source “high quality, accretive acquisitions”.
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