True IDC: CP Group Might Sell a Minority Stake in True IDC

Apr 14, 2022 | Posted by Abdul-Rahman Oladimeji

According to Bloomberg, True IDC is mulling over a partial sale of its company. The Thai data center firm is looking to raise up to $150 million by selling a minority stake in its business. The company currently operates one data center in Myanmar and four in Thailand. True IDC has seen significant interest from financial investors and other firms in the data center industry. The company is still deliberating on its next move, and it might also decide not to sell.

True IDC is part of Charoen Pokphand Group’s digital unit Ascend Corp. The company’s facilities in Thailand are located in Pattanakarn, Muangthong, Bangna, and Ratchada. Its Myanmar facility in Yangon was also opened in 2015.