DayOne Data Centers, a spin-off from GDS Holdings, is preparing for a dual listing on the Nasdaq and the Singapore Exchange (SGX). The company aims to raise approximately $5 billion, targeting a valuation of up to $20 billion. This transaction will serve as the first major test for the new collaboration framework between SGX and Nasdaq, which requires at least 15% of the offering to be placed on the Singapore exchange.
The company has secured over $6 billion in total equity since its founding in 2022. This includes a Series C round that raised over $2 billion in January 2026, followed by a final close of $4.5 billion in June 2026. Backers include Coatue Management, Hillhouse, SoftBank Vision Fund, and Ken Griffin. GDS Holdings retains a 19.9% stake, valued at over $2.2 billion.
JPMorgan, Morgan Stanley, Bank of America, and Citigroup are leading the transaction. DayOne operates hyperscale data centers across Asia-Pacific and Europe with over 1.5 gigawatts of capacity booked. The company rebranded to DayOne in January 2025. While the listing is planned, no official timeline has been confirmed, as final decisions depend on market conditions.
