NTT DC REIT Plans $773M IPO on Singapore Exchange

Japan's Nippon Telegraph and Telephone (NTT) is preparing to launch the largest data centre real estate investment trust (REIT) IPO on the Singapore Exchange in over a decade, aiming to raise approximately $773 million. The NTT DC REIT includes six data centres located in Singapore, the United States, and Austria, with a combined appraised value of around $1.57 billion. The offering consists of nearly 600 million units priced at $1 each, with additional units available through public and cornerstone investors, including Singapore's sovereign wealth fund GIC, which will hold a 9.8% stake. NTT plans to retain a significant stake of 20-25% post-listing, ensuring ongoing strategic interest. The REIT's portfolio features carrier-neutral, Tier III or equivalent data centres diversified across key global markets, targeting an annualized distribution yield of approximately 7.5%. This IPO reflects strong institutional confidence in data infrastructure assets amid growing demand for cloud computing and AI services.