Singapore-based data center platform DayOne plans to list simultaneously in Singapore and New York in an IPO that could raise US$5 billion, according to the Financial Times yesterday.
In February, w.media reported that the firm planned to list in the US in an IPO to be led by JPMorgan and Morgan Stanley, with Bank of America and Citigroup joining as well. The listing would likely take place this year, according to sources as reported by Reuters and Bloomberg.
Earlier 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.
The dual listing was enabled by a new law in Singapore passed last week that allows companies with a market value of more than S$2 billion (US$1.5 billion) to list simultaneously on both Singapore stock exchange SGX and Nasdaq based on the submission of a single set of paperwork on condition that at least 15 per cent of the IPO value must be listed on SGX.
If successful, DayOne could raise as much as NTT DC’s IPO in July 2025 which raised US$ 773 million, marking Singapore’s largest IPO in four years since Digital Core REIT’s $977 million debut in 2021.
DayOne did not respond to a request for comment while SGX, BofA, Citi, JPMorgan and Morgan Stanley declined to comment.
DayOne has digital infrastructure footprint in Indonesia, Malaysia, Singapore, Thailand, Hong Kong, Japan and Finland.