DayOne said to weigh options including delay, size cut for US IPO after data centre rout
It has not made a final decision and may still move ahead with the offering in the coming weeks
DayOne Data Centers is evaluating options for its US initial public offering, such as delaying the IPO or reducing its size, due to rising volatility in the data center sector, according to sources familiar with the matter. The Singapore-based company, backed by Coatue and Hillhouse, was previously considering raising up to US$5 billion from the listing, with an initial valuation of around US$20 billion.
However, it may now opt for a smaller listing worth between US$2.5 billion and US$3 billion, roughly half of its original target. DayOne is still engaging with potential investors and aims to proceed with the offering as soon as the market allows. The company has been raising billions of dollars in private funding rounds to build its data center portfolio.
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