Temasek-Backed STT GDC Is Said to Mull $1 Billion Pre-IPO Round
- Data center operator weighing bringing in strategic investors
- Firm is exploring IPO, which could happen as soon as next year
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A digital infrastructure provider backed by Singapore’s state-owned investment firm Temasek Holdings Pte is considering raising as much as $1 billion in a funding round before its potential initial public offering, according to people with knowledge of the matter.
ST Telemedia Global Data Centres has held talks with potential advisers on the fundraising as it’s keen to bring in strategic investors, the people said. The funding round would help set a valuation benchmark for an IPO, which could happen as soon as next year, the people said, asking not to be identified as the process is private.