DigiCo REIT is seeking to capitalise on the surge in investor interest in the sector, with a slate of companies seeking cash to expand their data centre portfolios on the back of the artificial intelligence boom. Global demand for such infrastructure is expected to rise at an annual rate of 19% to 22% from 2023 to 2030, according to a recent McKinsey & Co. report.
Shares of data centre operator DigiCo Infrastructure REIT fluctuated in their Sydney debut on Friday after a A$2 billion ($1.71 billion) initial public offering that was Australia’s biggest in more than six years.
The stock swung between gains and losses, rising as much as 2% and falling as much as 0.8% from its initial offer price of A$5. The deal — Australia’s largest since oil refiner Viva Energy Group Ltd.’s listing in July 2018 — has helped boost the nation’s overall IPO proceeds for this year to the equivalent of US$2.4 billion, more than the amount raised in 2022 and 2023 combined, according to data compiled by Bloomberg.
