In today’s briefing:
- NTT DC REIT IPO: Trading Debut
- NTT DC REIT IPO Trading – Decent Demand, High Yield and Discount Should Help
NTT DC REIT IPO: Trading Debut
- NTT DC REIT (NTTDCR SP) is the exclusive S-REIT vehicle sponsored by NTT Group. It has raised US$773 million at the offer price of US$1.00 per unit.
- I discussed the listing in NTT DC REIT IPO: The Investment Case and NTT DC REIT IPO: Valuation Insights.
- NTT DC REIT has the third-highest international oversubscription rates among REIT SGX listings since 2020. The IPO price is attractive in comparison to peers’ multiples and yields.
NTT DC REIT IPO Trading – Decent Demand, High Yield and Discount Should Help
- NTT DC REIT (NTTDCR SP), a data center REIT, raised around US$772m in its Singapore IPO.
- The IPO portfolio comprises six mainly freehold data centres in the U.S., Austria and Singapore with an aggregate appraised valuation of US$1.6bn
- We have looked at the past performance in our earlier notes. In this note, we will talk about the trading dynamics.
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