In today’s briefing:
- NTT DC REIT IPO: Valuation Insights
NTT DC REIT IPO: Valuation Insights
- NTT DC REIT (NTTDCR SP) is the exclusive S-REIT vehicle sponsored by NTT Group. It has launched an SGX IPO to raise proceeds up to US$864 million.
- I previously discussed the listing in NTT DC REIT IPO: The Investment Case.
- In this note, I discuss valuation. The valuation analysis suggests that the IPO price is attractive in comparison to peers’ multiples and yields.
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