Singapore data center operator DayOne files for IPO
DayOne lists Singapore among its markets on its website.
Singapore-based data centre operator DayOne has filed for an initial public offering on the US stock market, with a potential valuation of US$20 billion, according to Reuters. The company plans to list its shares on the Nasdaq exchange, though the number of American depositary shares and the price range for the offering have not been disclosed.
DayOne provides space, power, cooling and connectivity to cloud computing and AI customers through long-term contracts. Currently, the company operates in 10 markets, including Singapore, Japan, Thailand, Spain and Finland, with a total booking capacity of 2.3 gigawatts. DayOne received capacity awards in Singapore under the Republic’s Data Centre-Call for Application programme.
The data centre operator also expanded into Europe last year by investing 1.2 billion euros (US$1.4 billion) in a hyperscale data centre campus in Lahti, Finland. In 2024, DayOne's stake in its parent company Shanghai-based GDS Holdings was reduced from 52.7% to 35.6% following a US$1.2 billion funding round, leading to deconsolidation of the unit.
The company reported a net loss of US$81.9 million on revenue of US$512 million for the six months ended June 30. DayOne began as a subsidiary of GDS Holdings in 2022, aiming to expand its operations outside of mainland China.
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