SINGAPORE: DayOne Data Centres (DC) Ltd is weighing options for its US initial public offering (IPO), including a potential delay or size cut, as volatility around DCs increases, according to people familiar with the matter.
While Singapore-based DayOne has been waiting for the right window to launch the IPO, it’s also been considering the possibility of pushing back the share sale until the market recovers, the people said.
Other options include going ahead with a smaller listing that may raise US$2.5bil to US$3bil, roughly half of what it had originally aimed for, the people said.
DayOne, whose backers include Coatue and Hillhouse, is continuing to engage with potential investors and still wants to move forward as soon as the market allows.
The company was initially considering raising as much as US$5bil from the listing as soon as the fourth quarter.
It had been eyeing a valuation of S$20bil (US$15.7bil). — Bloomberg
