Oct 5 (Reuters) – Data center operator DayOne Data Centers filed for an initial public offering in the United States on Monday, testing investor appetite for data-center listings amid challenging market conditions.
The company posted a net loss of $77.2 million on revenue of $512 million for the six months ended June 30, compared with a loss of $12.6 million on revenue of $151.5 million a year earlier.
The filing comes as surging bond yields and elevated interest rates cloud the outlook for the fall IPO market, prompting several major listings to be postponed.
Data centers have also come under scrutiny over their heavy use of electricity, water and land, with communities raising concerns about their impact on power grids, utility bills and local resources.
The Singapore-based company develops and operates data centers for cloud-computing and AI customers, providing space, power, cooling and connectivity, primarily under long-term contracts.
DayOne operates across Asia-Pacific and Europe, including Malaysia, Indonesia, Thailand, Hong Kong, Japan, Finland and Spain, according to its filing.
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.
The company has not disclosed the size of the offering, although Reuters reported in February that it was aiming to raise as much as $5 billion at a potential valuation of $20 billion.
DayOne plans to use the IPO proceeds to develop and construct new data-center projects and for working capital and other general corporate purposes.
Morgan Stanley, J.P. Morgan, BofA Securities and Citigroup are among the underwriters for the offering. DayOne plans to list its American depositary shares on the Nasdaq under the symbol “DODC.”
(Reporting by Pragyan Kalita in Bengaluru; Editing by Anil D’Silva)
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