According to informed sources, Singapore-headquartered data center operator DayOne Data Centers Ltd. is preparing to confidentially submit an application for a U.S. initial public offering (IPO). The company may file a draft registration statement with the U.S. Securities and Exchange Commission as early as this week. However, sources indicated that no final decision has been made yet and the timing could still change. A representative for DayOne did not immediately respond to requests for comment.
It has been previously reported that DayOne could seek to raise approximately $5 billion through the IPO this year. The company is working with Bank of America, Citigroup, JPMorgan, and Morgan Stanley on the offering. Data centers continue to attract strong interest from companies and investors, who are eager to allocate capital to digital infrastructure essential for powering artificial intelligence. Advisory firms have been particularly active in handling mergers and acquisitions related to data centers in both Asia and the United States.
Formerly known as GDS International, DayOne completed a Series C funding round exceeding $2 billion in January to support its international expansion. The round was led by investor Coatue Management. According to its website, DayOne operates data centers in Singapore, Malaysia, Indonesia, Thailand, Hong Kong, Tokyo, and Finland. Other investors in the company include GDS, Boyu Capital, Hillhouse Investment, SoftBank Vision Fund, Tekne Capital, Baupost Group, and Ken Griffin, CEO of Citadel.
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