Business
Blackstone Digital Infrastructure Trust opens flat in NYSE debut after $1.75 billion IPO
New investment vehicle priced 87.5 million shares at $20 as AI-linked billion-dollar listings lift US IPO activity
File picture: Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, U.S. REUTERS
Shares of Blackstone Digital Infrastructure Trust opened flat in their New York Stock Exchange debut on Thursday after the newly formed investment vehicle raised $1.75 billion in its US initial public offering.
The New York-based company’s stock opened at $20 per share. It sold 87.5 million shares in the IPO at $20 each.
Artificial intelligence-linked companies have taken centre stage in the US IPO market this week, with three billion-dollar offerings, including chip firm Cerebras and Fervo Energy—the most on a weekly basis since 2021—according to Renaissance Capital, which provides IPO-focused research and ETFs.
Blackstone Digital Infrastructure Trust will invest primarily in newly constructed data centre assets leased to investment-grade hyperscale tenants. The company said earlier it has identified $25 billion in near-term opportunities in top markets such as Northern Virginia, Ohio, Phoenix, Maryland and Austin.