SoftBank-backed DayOne data center plans US IPO of up to $5bn
In short
SoftBank-backed DayOne Data Centers plans to raise up to $5 billion in a US IPO and list American depositary shares on Nasdaq by the end of this year, according to people familiar with the matter. The Singapore-based company filed an IPO prospectus with the SEC on Monday. Its first-half revenue more than tripled year on year to $512 million, while its net loss widened to $81.9 million from $13.5 million.
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SoftBank-backed DayOne Data Centers plans to raise up to $5 billion in a US initial public offering and list American depositary shares on Nasdaq by the end of this year, according to people familiar with the matter, as reported by CLS, Jiemian and 36Kr. The Singapore-based company filed an IPO prospectus with the US Securities and Exchange Commission on Monday, the reports said. [ 1 , 2 , 3 ]
According to the filing cited in the reports, DayOne’s revenue in the first half of this year rose more than threefold year on year to $512 million. Its net loss for the same period widened to $81.9 million from $13.5 million a year earlier. [ 1 , 2 , 3 ]
The reports did not disclose the company’s valuation, the number of shares to be sold, pricing terms or how it plans to use the proceeds. The $5 billion fundraising target and the year-end Nasdaq listing plan were attributed to people familiar with the matter rather than to the prospectus. 36Kr attributed its report to CLS. [ 1 , 2 , 3 ]
Why it matters
At up to $5 billion, the offering would be a sizable US listing by a Singapore-based data-center company. The disclosed financials show revenue growing rapidly while the net loss widened in the first half, a combination likely to draw scrutiny from public-market investors.
Key facts
- SoftBank-backed DayOne Data Centers plans to raise up to $5 billion in a US IPO, according to people familiar with the matter. [ 1 , 2 , 3 ]
- DayOne plans to list American depositary shares on Nasdaq by the end of this year. [ 1 , 2 , 3 ]
- DayOne filed an IPO prospectus with the US Securities and Exchange Commission on Monday. [ 1 , 2 , 3 ]
- DayOne is headquartered in Singapore, according to its SEC filing. [ 1 , 2 , 3 ]
- DayOne’s first-half revenue rose more than threefold year on year to $512 million. [ 1 , 2 , 3 ]
- DayOne’s first-half net loss widened to $81.9 million from $13.5 million. [ 1 , 2 , 3 ]
Confirmed by several sources
- SoftBank-backed DayOne Data Centers plans a US IPO to raise up to $5 billion, according to people familiar with the matter. [ 1 , 2 , 3 ]
- DayOne plans to list American depositary shares on Nasdaq by the end of this year. [ 1 , 2 , 3 ]
- DayOne filed an IPO prospectus with the SEC on Monday. [ 1 , 2 , 3 ]
- DayOne is headquartered in Singapore, according to its SEC filing. [ 1 , 2 , 3 ]
- DayOne’s first-half revenue rose more than threefold year on year to $512 million. [ 1 , 2 , 3 ]
- DayOne’s first-half net loss widened to $81.9 million from $13.5 million. [ 1 , 2 , 3 ]
Still unclear
- The exact IPO size, valuation, share count and pricing terms. The $5 billion cap comes from people familiar with the matter; the reports do not give further terms or official confirmation.
- Details of SoftBank’s backing, including stake size or investment terms. The reports describe DayOne as SoftBank-backed but do not specify the relationship.
- How DayOne plans to use the IPO proceeds. The documents do not state a use of proceeds.
- Whether the listing will be completed by the end of the year. The reports describe a plan for the end of this year but do not confirm completion.