NTT Data Center Real Estate Investment Trust (NTT DC REIT) launched its initial public offering (IPO), raising US$773 million (approximately S$988.53 million). Local retail investors can subscribe in SGD and trusts are issued to retail investors with a total of 30 million units.
The Trust privately allocated 569.88 million units to institutional investors and other investors outside the United States.
The Trust's IPO portfolio includes six data centers, distributed in the United States, Austria and Singapore, with a total valuation of approximately US$1.6 billion.
Trust is expected to be listed on the main board of the Singapore Exchange next Monday (14th).
According to a statement released by NTT Data Center Real Estate Investment Trust on Monday (July 7), the trust issued a total of 599.88 million units, with the initial issuance price of US$1 per unit. From 9 p.m. Monday to 12 p.m. on Thursday (10th) at 12 p.m., retail investors will be allowed to subscribe at S$1.276.
During the period from fiscal year 2025 to the first nine months of fiscal year 2026, the annualized dividend yield of the trust is expected to be 7.5%.
If the portion subscribed by NTT Group is included, the total issuance scale is approximately US$1 billion. This is expected to be the largest initial public offering in Singapore's real estate investment trust (S-REIT) market since 2013.
In addition, it also signed a subscription agreement with the sponsoring agency NTT Group (NTT Limited), which subscribed 257.55 million units and held a 25% stake.
Trust has obtained seven cornerstone investors including the Singapore Government Investment Corporation (GIC), subscribed 172.77 million units, of which the Singapore Government Investment Corporation subscribed about 1088 million units, holding about 9.8%, making it the second largest investor behind the trust sponsor NTT Group.
GIC is the second largest investor