Besides a public tranche of 30 million units, which was 8.9 times subscribed, the placement tranche was around 4 times subscribed.
In addition, Merrill Lynch (Singapore), as stabilising manager, has been over-allotted an additional 51.47 million units, all of which were allocated to applicants under the placement tranche.
In total, this IPO raised proceeds of some US$773 million.
GIC, Singapore's sovereign wealth fund, has notably positioned itself as the cornerstone investor by taking up a stake of 9.8%.
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Besides GIC, other cornerstone investors include AM Squared, Ghisallo Master Fund, Hazelview Securities, Pinpoint Asset Management (Singapore), UBS acting through its Singapore Branch on behalf of certain of its wealth management customers, and Viridian Asset Management.
According to a breakdown provided by NTT DC REIT, there were a total of 7,086 applicants for the public tranche, and a consistent balloting ratio of 25:50 was applied.
The most popular number of units applied for was between 10,000 and 19,000 units, and 1,963 successful applicants were each allocated 4,000 units.
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Notably, there were applicants who applied 1 million or more units each, and four of the successful applicants received 31,000 units each.
Yutaka Torigoe, CEO of the manager, says he is grateful for the strong support from investors, which underscores the growing appetite for quality assets, underpinned by robust fundamentals of the global data centre sector.
"With access to the sponsor’s global pipeline of premium-quality assets and a clear growth strategy, we are focused on delivering sustainable value to our unitholders,” he adds.
