Data centre operator DayOne aims to raise $5 billion in US IPO, source says

By Kane Wu

HONG KONG, Feb 13 (Reuters) - Global data centre operator DayOne, affiliated with China's GDS Holdings GDS.O 9698.HK, aims to raise as much as $5 billion in a U.S. initial public offering, possibly this year, a source with knowledge of the company's plan said on Friday.

DayOne, which raised more than $2 billion in its latest funding round in January, could be valued at $20 billion in the IPO, the source said, declining to be named as the information was confidential.

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

Bloomberg first reported on Friday the Singapore-headquartered data centre operator's plan. It said DayOne had asked JPMorgan JPM.N, Morgan Stanley MS.N to lead the planned share sale and Bank of America BAC.N and Citigroup C.N to work on the deal.

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.

DayOne's portfolio of assets includes some 480 megawatts of data centre capacity that are in service or under construction and an additional 590 MW reserved for future development across strategic locations in Hong Kong, Indonesia, Japan, Malaysia and Singapore, GDS has said.

In August, DayOne announced a 1.2 billion euro ($1.4 billion) investment in a hyperscale data centre campus in Lahti, Finland, marking its first entry into Europe.

DayOne said last month its latest fundraising was led by existing investor Coatue with participation including from Indonesia Investment Authority.

Proceeds will be used to advance its hyperscale campuses in Lahti and Kouvola, Finland, and support expansion in Singapore, Johor in Malaysia, Batam in Indonesia, Thailand, Japan and Hong Kong, it said at the time.