The listed entity will own about 10 data centres from around the world, one of the people said. It could be structured as a real estate investment trust or a business trust.
Deliberations are ongoing and details such as size and timing could change, the people said. A representative for Digital Realty Trust declined to comment.
The share sale would tap growing investor interest in data centres, with the coronavirus pandemic accelerating a shift to remote work and e-commerce adoption, both of which depend on cloud computing resources. Digital Realty Trust’s offering would be the second tech-related listing in Singapore this year, following electronics maker Aztech Global Ltd.’s S$297 million IPO in March.
Digital Realty Trust caters to several industries ranging from cloud and information technology services to banks, manufacturing, energy and health care. The Austin, Texas-based company’s portfolio consists of 290 data centres globally as of March 31, its latest earnings release showed.
Its customers include International Business Machines Corp., AT&T Inc. and National Australia Bank Ltd., according to the website. Digital Realty Trust completed the acquisition of Dutch data centre firm Interxion Holding NV for about US$7.2 billion last year. The U.S. company in 2019 agreed to sell a portfolio of data centres to Singapore’s Mapletree Investments Pte and Mapletree Industrial Trust in a two-part deal valuing the assets at about US$1.4 billion. The transaction completed in early 2020.
