NTT’s $812 Million REIT Float Set to Break Singapore IPO Drought

Japan’s NTT Ltd. is seeking to raise as much as $812 million in a Singapore listing of its data center real estate investment trust, in what is poised to be the city-state’s biggest IPO in eight years.

NTT DC REIT is aiming for a market capitalization of more than $1 billion, through selling units at $1 each, according to terms of the deal seen by Bloomberg News. If an over-allotment option is exercised, the listing could raise as much as $864 million.