AirTrunk, a leading data center operator, is reportedly considering an initial public offering (IPO) in Australia that would value the company at over A$10 billion ($6.4 billion). This move comes as the demand for data centers continues to rise due to increased reliance on cloud-based services.
According to the Australian Financial Review, AirTrunk’s investors, Macquarie Asset Management and PSP Investments, have sent a request for proposals to seven banks to explore the possibility of an IPO or the sale of a minority stake in the business. The company is expected to appoint Macquarie Capital and at least two other banks as joint lead managers for the IPO.
The data center sector has been attracting investors’ attention due to a lack of supply and its exposure to digital infrastructure. Additionally, the development of artificial intelligence computing has further boosted the industry’s prospects.
AirTrunk’s CEO, Robin Khuda, highlighted the significant growth in the sector, stating that it’s unlike anything seen in the past decade. The company recently secured a A$4.6 billion multi-currency sustainability-linked loan, which was the largest syndicated deal in Australia this year.
With businesses increasingly relying on cloud-based services and the growing demand for data centers, AirTrunk’s IPO could attract significant interest from investors. It presents an opportunity to capitalize on the surge in digital infrastructure and the rising significance of data centers in supporting various industries.
The potential IPO of AirTrunk would not only provide an avenue for investors to participate in the company’s growth but also contribute to the expansion of data center infrastructure in Australia and the surrounding region.
As of now, AirTrunk, Macquarie, and PSP have not responded to requests for comment regarding the reported IPO plans. However, if the IPO proceeds, it is expected to be a major milestone for AirTrunk and the data center industry as a whole, catering to the increasing demand for cloud-based services and digital infrastructure.
