Australia’s corporate regulator is preparing to scrutinise data centre developer AirTrunk’s pending $20 billion sale as part of its investigation into private market transactions and their compliance with integrity rules.

A senior ASIC source, who was not permitted to speak on the record, said the Australian Securities and Investments Commission would step up its monitoring of landmark private markets deals to make sure those involved were not misusing confidential information, including at Australia’s AirTrunk. Its auction could reset valuations of data centre owners and developers globally.