DayOne, a Singapore-based data center operator, plans to raise up to US$5 billion in an initial public offering (IPO) in the US to be led by JPMorgan and Morgan Stanley, according to Reuters and Bloomberg, quoting sources. Bank of America and Citigroup will also participate in the planned share sale deal likely to take place this year, the sources who declined to be named, said last week.
DayOne did not respond to a request for comment by reporters.
In January, w.media reported that the company was mulling a US$20 billion IPO in a possible dual listing in the US and Singapore. If successful, it would mark one of the largest data center listings to emerge from the private equity-backed infrastructure boom driven by artificial intelligence workloads.
Prior to that, within the same month, DayOne closed a US$2 billion Series C funding round which was expected to value the company at about US$10 billion. GDS Holdings, which backed the company, sold US$ 385 million of DayOne shares in January and said its remaining stake was worth more than US$ 2.2 billion.
In August, the firm announced a 1.2 billion euro (US$1.4 billion) investment in a hyperscale data centre campus in Lahti, Finland, marking its first entry into Europe.
DayOne operates data centres across Singapore, Malaysia, Indonesia, Thailand, Hong Kong, Tokyo, and recently Finland. Its portfolio includes some 480 megawatts of data centre capacity that are in service or under construction, and an additional 590 MW reserved for future development.