Singapore-based data center platform DayOne Data Centers has filed for an initial public offering in the United States on Monday. It plans to list its American depositary shares on the Nasdaq under the symbol “DODC”, according to its press release.
The company posted a net loss of US$77.2 million on revenue of US$512 million for the six months ended June 30, compared with a loss of US US$12.6 million on revenue of $151.5 million a year earlier, according to Reuters.
Morgan Stanley, J.P. Morgan, BofA Securities, and Citigroup will act as underwriters of the IPO. The company did not reveal the number of ADSs to be offered and the price range for the proposed offering.
The firm plans to use the IPO proceeds to develop and construct new data center projects and as working capital. The registration statement on Form F-1 has been filed with the U.S. Securities and Exchange Commission but has not yet become effective, the statement added.
Since 2024, DayOne has raised more than US$6 billion in equity financing, according to its statement.
In August, w.media reported that DayOne has filed confidentially for a United States initial public offering (IPO) which could raise US$ 5 billion (S$6.4 billion), according to Bloomberg quoting people familiar with the matter.
In May, w.media reported that the firm planned to list simultaneously in Singapore and New York in an IPO that could raise US$5 billion, quoting the Financial Times. Earlier in February, w.media reported that the US IPO will be led by JPMorgan and Morgan Stanley, with Bank of America and Citigroup joining as well, and that the listing would likely take place this year, as per reports by Reuters and Bloomberg, quoting sources. In January, w.media reported that the company was considering an IPO in the US which could value the data center operator at US$20 billion, with the possibility of a dual listing with Singapore.
DayOne operates across 10 markets in Asia-Pacific and Europe, including Malaysia, Indonesia, Thailand, Hong Kong, Japan, Finland and Spain, with total bookings of 2.3 GW, according to its website.