DayOne Weighs IPO Delay or Half-Size $2.5B-$3B Listing
TL;DR
- DayOne is considering a delay or a smaller $2.5B-$3B US listing, roughly half the $5B it originally targeted in Q4.
- The GDS-spinoff had filed for a Nasdaq debut under ticker DODC aiming at a potential $20 billion valuation.
- JPMorgan Chase and Morgan Stanley lead the deal with Bank of America and Citigroup, as data-center stocks sell off.
DayOne Data Centers, the Singapore-based operator spun out of China's GDS Holdings, is weighing a delay or a sharply smaller US debut after a sell-off in data-center stocks hit its IPO window.
Bloomberg reported that the company is considering pushing the share sale back until the market recovers, or going ahead with a smaller listing that may raise $2.5 billion to $3 billion, "roughly half of what it had originally aimed for." DayOne had filed for a Q4 Nasdaq debut targeting as much as $5 billion at a potential $20 billion valuation, with American depositary shares planned under the ticker DODC.
No final decision has been made. The company "could still proceed in the coming weeks as it keeps talking to investors," according to the reporting, and wants to list as soon as the market allows. Lead advisors are JPMorgan Chase and Morgan Stanley, with Bank of America and Citigroup also on the book.
The pullback lands as the broader AI-infrastructure listing pipeline wobbles. AI Weekly tracked Nvidia reportedly weighing a stake in Firmus the same day, after Firmus pulled its own $5 billion IPO.
Originally reported by bloomberg.com
Read the original article →Original headline: GDS-Backed DayOne Weighs US IPO Delay or Smaller $2.5–3B Listing After Original $5B Target