Singapore-based data center platform DayOne has last week 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. It plans to list as early as next quarter, the people added.
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$20 billion, with the possibility of a dual listing with Singapore.
Investor appetite for AI-linked infrastructure continues to build, even amid talks of a bubble.
In June, w.media reported that DayOne had closed a US$ 4.5 billion Series C financing led by existing investors Coatue Management and Hillhouse Investment, DayOne’s two largest shareholders. It was participated by new investors including Indonesia Investment Authority (INA) and Achi Capital Partners. The financing was aimed at accelerating its expansion in Singapore, Malaysia, Indonesia, Thailand, Japan, Hong Kong, Finland, and Spain.
Since its inception in 2022, DayOne has secured more than 1.5 gigawatts (GW) of total bookings for capacity in Asia Pacific and Europe, making it one of the largest and fastest-growing international digital infrastructure platforms.
DayOne did not immediately respond to a request for comment.