Singapore's BDx Data Centres Eyes IPO as AI Boom Fuels Asia Expansion

Singapore-based BDx Data Centres has confirmed that an initial public offering is among its options as the company seeks to raise capital for aggressive expansion across Asia-Pacific, capitalising on what its CEO describes as a 'golden age' for the data centre industry driven by surging AI demand.

CEO Mayank Srivastava said all options are on the table regarding a potential listing, though no timeline has been set and no venue ruled out. Founded in 2019 and backed by global infrastructure investor I Squared Capital — which manages US$60 billion in assets — BDx builds and runs data centres for cloud companies and large enterprises. The company is focusing on building new sites rather than acquisitions, targeting opportunities within a five-hour flight radius of Singapore, with Indonesia as a key market where it has secured 1.2 gigawatts of grid power across two sites.

The development comes as the data centre industry undergoes a structural shift. Demand is no longer limited to large cloud providers — a new wave of 'neoclouds' that rent out AI computing power is driving additional capacity requirements. Similar moves by competitors include AirTrunk reportedly considering a Singapore IPO for a data centre REIT, and PLDT planning to list its VITRO unit in the Philippines.

Why it matters for Singapore: BDx is a homegrown Singapore success story that reflects the city-state's position as a data centre hub for all of Southeast Asia. A successful BDx IPO would be one of the largest Singapore tech listings in recent years and would signal global investor confidence in the region's AI infrastructure story. It underscores how Singapore-based companies are leveraging their strategic location, stable power grid, and business-friendly environment to capture AI growth across the broader Asia-Pacific region.