Business · Singapore Bureau
AirTrunk postpones Singapore REIT listing as tech stocks stumble
Blackstone-backed data centre operator AirTrunk has delayed its planned Singapore real estate investment trust initial public offering, citing volatile market conditions. The move comes as Asian equities retreated to two-month lows amid a broader technology sector selloff.
LSN Singapore ·
AirTrunk, the data centre platform backed by global investment firm Blackstone, has postponed its Singapore REIT IPO as equity markets face headwinds from selling pressure in technology stocks, according to sources familiar with the matter.
The delay reflects broader market turbulence across Asia, where equities slipped to their lowest levels in more than two months earlier this week. The technology sector has borne the brunt of recent volatility, weighing on investor sentiment for new listings in the region.
The decision underscores the challenging environment for capital raises in Singapore's equities market, particularly for infrastructure and real estate plays that typically attract long-term institutional investors. Market observers noted that pullbacks in high-growth technology stocks have created uncertainty across broader asset classes.
AirTrunk operates a growing portfolio of data centres across the Asia-Pacific region, capitalising on surging demand for cloud computing and artificial intelligence infrastructure. The company has been expanding aggressively to meet increased corporate demand for secure, high-performance data facilities.
No revised timeline for the IPO has been announced. Market participants will likely monitor Asian equity performance and broader technology sector trends closely for signals of improved conditions for new listings.