Singapore’s BDx says open to an IPO as AI boom fuels Asia expansion
It is looking at expansion opportunities across Apac, broadly within a five-hour flight radius of Singapore
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[SINGAPORE] BDx Data Centers said an initial public offering is among its options as it seeks capital to expand across Asia and make the most of surging demand for artificial intelligence.
“All options are on the table,” CEO Mayank Srivastava said in an interview when asked whether BDx would consider a listing. “The only thing that guides us is the capital required for growth.”
He said there was no timeline for a potential IPO, and he had not ruled out any possible listing venues.
The industry boom has led AirTrunk to consider a Singapore IPO of a data centre real estate investment trust. PLDT also plans to list its Vitro data centre unit as a real estate investment trust in the Philippines.
Founded in 2019, BDx builds and runs data centres for cloud companies and other large businesses across Asia. It is backed by I Squared Capital, a global infrastructure investor founded in 2012 with US$60 billion in assets under management.
Srivastava said the industry is in a golden age with demand expanding beyond large cloud providers to “neoclouds” or newer companies that rent out AI computing power to businesses.
BDx is focusing more on building new sites than acquisitions because takeover prices have become expensive, he added.
It is looking at expansion opportunities across Asia-Pacific, broadly within a five-hour flight radius of Singapore, with power supply, market growth and talent among its main considerations.
Indonesia is a key market. Srivastava said BDx had secured 1.2 gigawatts of grid power across two sites there, and had started work on one site for a large customer.
When asked about media reports that I Squared was exploring a sale of its holding in BDx, Srivastava declined to comment. REUTERS
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