DayOne Eyes Dual IPO in Singapore and US, Targets $5B Raise with $20B Valuation

According to Reuters, DayOne, a Singapore-based data center operator, is considering a dual initial public offering in Singapore and the United States after initially exploring a New York-only listing. The company was encouraged by Singapore market officials to pursue a co-listing.

DayOne plans to raise $5 billion in the US listing, which could value the company at approximately $20 billion. The company raised over $2 billion in a January Series C funding round led by Coatue. DayOne was rebranded from GDS International in January 2025 following its separation from Shanghai-based GDS Holdings, which retains a minority stake.