Shares of Blackstone Digital Infrastructure Trust fell as much as 2% on Thursday in their New York debut after the company raised $1.75 billion in its initial public offering.
The stock opened flat at $20 and later traded at $19.72. Blackstone Digital Infrastructure Trust sold 87.5 million shares at $20 each in the offering.
The company plans to acquire newly built data centers valued between $250 million and $1.5 billion. The facilities will be leased to investment-grade hyperscale tenants in markets including Northern Virginia, Ohio, Phoenix, Maryland and Austin.
Blackstone Digital Infrastructure Trust said it has identified and reviewed roughly $25 billion in near-term opportunities in established data markets.
