Blackstone-Backed AirTrunk Shelves $1.5B Singapore REIT IPO as AI Selloff Bites
BX is trading near its 52-week low of $101.73 (13% above the low).
Summary
AirTrunk, a Blackstone-owned data-center operator, has postponed its planned Singapore REIT IPO that was expected to raise about $1.5 billion, citing the tech and AI stock selloff. The listing, which would have valued the REIT at roughly $15 billion, was originally slated for September or October and is now targeted for early next year. The delay follows the scrapping of Firmus' IPO and highlights a tougher market for large data-center and AI-linked equity offerings. For Blackstone, the postponement removes a near-term monetization event and signals caution in the AI infrastructure space, though the company has multiple other large deals in progress.
At the time of this announcement, BX was trading at $114.72 on NYSE in the Finance sector, with a market capitalization of approximately $142.5B. The 52-week trading range was $101.73 to $166.39. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.