Data centre firm DayOne said to be mulling over potential $6.4b dual listing in Singapore and US
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A DayOne data centre in Johor. The Singapore-based company has operations in markets such as Malaysia, Indonesia, Thailand, Japan and Hong Kong.
PHOTO: DAYONE
Bengaluru – Global data centre operator DayOne is considering a dual initial public offering (IPO) in Singapore and the US, though the Singapore plans are not concrete at this stage, a source familiar with the matter told Reuters on May 17.
DayOne initially considered a sole listing in New York, but has been persuaded by Singapore stock market officials to co-list, the Financial Times reported earlier on May 17.
The Singapore-based data centre operator declined to comment.
Reuters reported in February that DayOne planned to raise US$5 billion (S$6.4 billion) in a US IPO that could value the company at US$20 billion.
If it happens, this might be among the first listings under the Singapore Exchange’s new Global Listing Board, which lets companies with a market cap of at least US$2 billion list on both SGX and Nasdaq using the same prospectus.
China’s GDS Holdings set up GDS International in Singapore in 2022, which was rebranded as DayOne in January 2025 following its separation from the parent company.
DayOne’s current investors include US investment firm Coatue Management, SoftBank Vision Fund and Citadel Securities founder Ken Griffin. GDS Holdings retains a minority stake in the company.
Temasek-owned ST Telemedia is said to be one of the largest investors in GDS Holdings. DayOne’s chief executive Jamie Khoo spent more than a decade with ST Telemedia before serving as chief operating officer at GDS Holdings.
DayOne is developing data centres and related infrastructure in Indonesia, Malaysia, Singapore, Thailand, Hong Kong, Japan and Finland, FT reported.
The company raised more than US$2 billion in its series C equity financing in January, but did not disclose a valuation at the time.
The funding round was priced at a 100 per cent premium to its prior equity raising, the data centre operator said at the time. The round was led by existing investor Coatue with participation from investors including Indonesia’s sovereign wealth fund, Indonesia Investment Authority. REUTERS
