Another One Bites The Dust: Blackstone's AirTrunk Pushes $1.5 Billion Data Center IPO To 2027 Days After Firmus Faceplant
In this news:
Key takeaways
- AirTrunk delayed its 1.5 billion dollar Singapore REIT IPO.
- The offering is now expected to happen in 2027.
- Higher interest rates and market volatility prompted the delay.
Last week it was a 42-megawatt former Bitcoin miner asking for a $30 billion valuation. This week it's the region's biggest, most established data center operator, owned by Blackstone, asking for... a REIT yield. Public markets said no to both.
According to Bloomberg, AirTrunk is delaying the planned initial public offering of a Singapore real estate investment trust until next year “as higher interest rates and market volatility temper investor demand.” The Blackstone and CPP Investments-backed operator had planned to start formally gauging investor interest for the $1.5 billion REIT IPO at the start of October; the WSJ reports the deal could now come in the first or second quarter of 2027, “depending on conditions.”
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