By Akanksha Khushi and Gnaneshwar Rajan
May 17 (Reuters) – Global data centre operator DayOne is considering a dual initial public offering in Singapore and the U.S., though the Singapore plans are not concrete at this stage, a source familiar with the matter told Reuters on Sunday.
DayOne initially considered a sole listing in New York, but has been persuaded by Singaporean stock market officials to co-list, the Financial Times reported earlier on Sunday.
The source spoke to Reuters on condition of anonymity because the information was not public. The data centre operator declined to comment.
Reuters reported in February that DayOne planned to raise $5 billion in a U.S. IPO that could value the company at $20 billion.
Shanghai-based 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.
Singapore-based DayOne’s current investors include U.S. investment firm Coatue Management, SoftBank Vision Fund and Citadel Securities founder Ken Griffin.
GDS retains a minority stake in the company.
DayOne raised more than $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% 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.
(Reporting by Gnaneshwar Rajan and Akanksha Khushi in Bengaluru; Editing by Jamie Freed)
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