DayOne, a data center company backed by SoftBank, is planning a U.S. initial public offering that could raise as much as $5 billion, according to people familiar with the matter. The company is aiming to list American depositary shares on Nasdaq by the end of this year at the latest. DayOne has already taken a formal step toward the offering, filing its IPO prospectus with the U.S. Securities and Exchange Commission on Monday. Documents submitted to the SEC show that the Singapore-headquartered company posted strong top-line growth in the first half of the year, with revenue rising more than threefold year over year to $512 million. At the same time, its net loss widened sharply, increasing from $13.5 million to $81.9 million over the same period. The filing outlines a business that is expanding revenue quickly while also reporting deeper losses ahead of its planned market debut.
DayOne, a SoftBank-backed data center company, is seeking to raise as much as $5 billion in a U.S. initial public offering, according to people familiar with the matter.
The company plans to list American depositary shares, or ADSs, on Nasdaq by the end of this year at the latest.
DayOne filed its IPO prospectus with the U.S. Securities and Exchange Commission on Monday.
According to documents the company submitted to the SEC, DayOne is headquartered in Singapore. In the first half of this year, its revenue rose more than threefold from a year earlier to $512 million. Over the same period, net loss widened from $13.5 million to $81.9 million.
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