AirTrunk, the Blackstone-owned data centre operator, is delaying a planned stock market listing in Singapore until next year, Bloomberg and Reuters reported on 13 October 2026, each citing people familiar with the matter [1][2]. The Wall Street Journal first reported the delay, according to Reuters [2]. None of the companies involved has confirmed it.
What a REIT is
A REIT, or real estate investment trust, is a company that owns property that earns rent and passes most of that income to its investors. Buying REIT shares lets people invest in buildings without owning them directly. In this case, the property would be data centres, the large buildings full of servers that power cloud computing and AI. An IPO, or initial public offering, is when shares are first sold to the public on a stock exchange.
What Bloomberg reported
Bloomberg said AirTrunk is delaying the IPO of a real estate investment trust in Singapore until next year, because higher interest rates and market volatility are tempering investor demand [1]. According to Bloomberg, the company had planned to start formally gauging investor interest in the $1.5 billion REIT IPO at the start of October [1].
What Reuters reported
Reuters, citing two people with direct knowledge of the matter, said the IPO could raise about $1.5 billion and was originally planned for September or October, but was put on hold because of market conditions [2]. According to Reuters, AirTrunk has not decided when to launch the offering but aims to complete the listing by early next year, and the REIT was expected to be valued at about $15 billion [2]. Reuters linked the delay to a selloff in technology and AI shares that has rattled markets [2].
Reuters said AirTrunk did not immediately respond to a request for comment, and Blackstone declined to comment [2].
Part of a wider pattern
The reported delay follows Firmus, another data centre company backed by Nvidia, scrapping its planned IPO on Australia’s ASX stock exchange last week, as both Bloomberg and Reuters noted [1][2]. Reuters said the two cases point to a harder market for large data centre and AI-linked share sales, as investors look again at valuations, borrowing costs and how long AI-driven demand will last [2].
What this means
- Nothing is confirmed. All the details come from unnamed people quoted by Bloomberg and Reuters. AirTrunk and Blackstone have not spoken publicly.
- The timing is still open. Bloomberg says next year; Reuters says AirTrunk aims to list by early next year but has not set a date.
- Data centre listings face tougher buyers. Higher interest rates and nervous tech markets are making investors more cautious, even as companies keep spending heavily on AI infrastructure.
Sources
- Bloomberg News via Bloomberg Law (Julia Fioretti, Elffie Chew, Manuel Baigorri), “Data Center Operator AirTrunk Is Said to Delay $1.5 Billion IPO”, 13 October 2026. https://news.bloomberglaw.com/securities-law/data-center-operator-airtrunk-is-said-to-delay-1-5-billion-ipo
- Reuters via MarketScreener (Yantoultra Ngui, Kane Wu), “Blackstone-backed AirTrunk delays Singapore REIT IPO amid AI stock selloff, sources say”, 13 October 2026. https://sa.marketscreener.com/news/blackstone-backed-airtrunk-delays-singapore-reit-ipo-amid-ai-stock-selloff-sources-say-ce785ddddd80ff27
