Data centre operator DayOne reveals revenue surge in US IPO filing
GDS•DayOne Data Centers filed for a U.S. IPO after reporting $512 million in revenue and a $77.2 million net loss for the six months ended June 30, compared with $151.5 million in revenue and a $12.6 million loss a year earlier.
1. IPO filing and results
Singapore-based data center operator DayOne Data Centers filed for an initial public offering in the United States. For the six months ended June 30, it reported revenue of $512 million and a net loss of $77.2 million, compared with revenue of $151.5 million and a net loss of $12.6 million a year earlier.
2. Business and planned proceeds
DayOne develops and operates data centers for cloud-computing and AI customers, primarily under long-term contracts, across Asia-Pacific and Europe. It plans to use IPO proceeds to develop and construct new data-center projects and for working capital and other general corporate purposes; it has not disclosed the offering size.
3. Listing plans and context
DayOne plans to list American depositary shares on Nasdaq under the symbol DODC. It reportedly was aiming to raise as much as $5 billion at a potential valuation of $20 billion. The filing comes as elevated interest rates and surging bond yields cloud the fall IPO outlook, while data centers face scrutiny over electricity, water and land use.
