Singapore’s secondary equity market is quietly becoming a major growth engine. Secondary fundraising reached S$3.57 billion in the first eight months of 2026 and could surpass S$4 billion after Keppel DC REIT’s S$625 million placement.
The deal is particularly telling: the placement was about 3.4 times covered, while 98.5% of proceeds will help fund the S$1.37 billion acquisition of two hyperscale data centres in Japan.
More importantly, this is not simply about raising cash. Japan’s contribution to rental income could rise from 9% to 23%, while pro-forma FY25 DPU increases 2.6%. With AI and cloud demand accelerating, Singapore’s equity market is increasingly becoming a financing platform for digital infrastructure. For investors, the key question is whether these capital raisings create sustainable earnings growth—not just bigger balance sheets.
@SGX_Stars [胜利]
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