An international data center company with connections to China is reportedly preparing for a massive stock market debut across two continents, according to weekend financial news reports.
DayOne, a worldwide data center operator linked to China’s GDS Holdings, is preparing for simultaneous stock listings in Singapore and the United States that could generate $5 billion, the Financial Times reported Sunday.
The company has not yet responded to requests for confirmation of the report.
According to the Financial Times, DayOne originally explored listing exclusively on the New York stock exchange, but Singapore market officials convinced the company to pursue a dual listing approach. The report cited three sources with knowledge of the company’s strategy.
Earlier this year in February, reports indicated DayOne was targeting a $5 billion fundraising goal through a U.S. public offering, with sources suggesting the company could achieve a $20 billion valuation.
The company has undergone recent restructuring, with Shanghai-based GDS Holdings establishing GDS International in Singapore during 2022. The Singapore entity was later renamed DayOne this past January after separating from its parent organization.
