DayOne Data lines up banks for $5 billion US IPO, Bloomberg News reports

Feb 13 (Reuters) - DayOne Data Centers has selected banks to prepare for a U.S. initial public offering that could raise about $5 billion, Bloomberg News reported on Friday, citing people familiar with the matter.

The Singapore-headquartered data center operator has tapped JPMorgan JPM.N and Morgan Stanley MS.N to lead the planned share sale, the report said, adding that Bank of America BAC.N and Citigroup C.N are also involved.

Backed by Chinese data-center operator GDS Holdings, DayOne is targeting a valuation of up to $20 billion, with a listing possible as early as this year, according to the report.

DayOne Data Centers did not immediately respond to a Reuters' request for comment.

Last month, DayOne Data Centers raised more than $2 billion in its Series C equity financing to support its expansion in Europe and Asia.

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.