DayOne Data Centers Ltd., the global affiliate of Chinese data center operator GDS Holdings Ltd. (GDS.US: 9698.HK), is considering dual listings in Singapore and the U.S., as it seeks money for its rapid buildup of data centers in Asia and Europe, according to media reports.
The dual listings on the Nasdaq and Singapore Stock Exchange by Singapore-based DayOne could raise about $5 billion and value the company at around $20 billion, according to the reports.
DayOne has been developing data centers in Singapore, Malaysia, Indonesia and Thailand, and is expanding into Japan and Finland as it moves beyond Southeast Asia. The company said in April it planned to make Malaysia its largest operating base.
DayOne was originally GDS’ international business unit. It sold down its stake by bringing in external investors in 2024, but continues to hold 24% of the company. GDS’ Hong Kong-listed stock fell 2.1% in Monday morning trading. The stock is up about 23% this year.
By Doug Young
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