ST Telemedia Global Data Centres (STT GDC), a major digital infrastructure provider in Asia, is reportedly considering raising up to $1 billion in a funding round prior to a potential IPO. The company is backed by Temasek Holdings, Singapore's state-owned investment firm. Sources familiar with the matter revealed that the funding round would help STT GDC bring in strategic investors and set a valuation benchmark for the IPO, which could take place as early as next year.
STT GDC operates over 170 data center facilities across Singapore, India, China, Thailand, South Korea, Indonesia, Japan, the Philippines, and the UK. The company has been exploring the possibility of an IPO since earlier this year, with Singapore and the US being among the possible listing venues. A successful IPO could potentially raise over $1 billion in funds for STT GDC, according to a previous Bloomberg News report.
While discussions of the funding round are still in the preliminary stages, STT GDC is reportedly exploring all options to optimize its capital structure. This includes attracting strategic and financial investors, pre-IPO funding rounds, bond offerings, or even a potential IPO. Temasek Holdings, which fully owns STT GDC's parent company Singapore Technologies Telemedia Pte, declined to comment on the matter.
In January 2023, Macquarie Asset Management acquired a 40% stake in STT GDC's European unit Virtus Data Centres for an undisclosed amount. This move highlights the growing importance of digital infrastructure and data centers in the global economy. As more companies transition to digital operations, the demand for reliable and secure data center facilities is expected to grow. STT GDC is well-positioned to take advantage of this trend, with its extensive network of data centers and strategic partnerships.
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