AirTrunk, a Blackstone-backed data centre operator, is close to confidentially filing for an initial public offering (IPO) of a real estate investment trust (REIT) in Singapore as soon as the week of June 29, 2026 [1, 2, 3, 4, 5]. The company aims to raise approximately US$1.5 billion in the IPO, which would be the largest in Singapore since 2017 [1, 2, 3, 6, 4, 5]. However, timing remains uncertain as deliberations on the schedule are ongoing and could still change [1, 2, 3, 5].
Founded in 2015, AirTrunk operates data centres across Australia, Hong Kong, India, Japan, Malaysia, Singapore, and Saudi Arabia [1, 2, 3, 4, 5]. The company was acquired by Blackstone and the Canada Pension Plan Investment Board for A$24 billion (around US$16.6 billion) in a deal valued at about S$21.3 billion [1, 2, 3, 4].
AirTrunk is working with Citigroup, DBS Group Holdings, and Jefferies Financial Group on the IPO process [1, 2, 3, 4]. The broader Singapore IPO market saw funds raised of about US$912 million so far in 2026, down from US$1.9 billion in 2025 [1, 2, 3, 4]. The last largest Singapore IPO was Netlink NBN Trust’s US$1.7 billion offering in 2017 [1, 2, 3, 4].
An AirTrunk representative declined to comment on the potential IPO filing [1, 2, 3, 4, 5]. The company may submit its draft registration to the Monetary Authority of Singapore and the Singapore Exchange in the coming days [1, 2, 3, 4, 5].
