Market Chatter: Nippon Telegraph & Telephone Mulling REIT Listing in Singapore

MT Newswires

Jan 13, 2025

Japan's Nippon Telegraph & Telephone (TYO:9432) has appointed the Bank of America and UBS to help with an initial public offering worth $1 billion of a data centre real estate investment trust in Singapore, according to a report by Reuters on Friday.

According to sources close to the matter, the listing is likely to take place during the second half of the year.

In 2024, IPO activity raised total proceeds of around $152.3 million in Singapore, according to the report.

Responding to a Reuters email, an official from the NTT DATA Group confirmed that the company is evaluating the formation of a REIT but added that no definitive decision has been reached so far.

The IPO, if it goes through, will be the biggest in the city-state since the 2021 listing of Digital Core REIT (SGX:DCRU) which was valued at $977 million, the report noted.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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