SoftBank-Backed DayOne Data Center Plans U.S. IPO to Raise Up to $5 Billion

Sources say SoftBank-backed DayOne plans to raise up to $5 billion in an initial public offering (IPO) on the U.S. stock market, with American Depositary Shares (ADS) expected to list on Nasdaq by year-end at the latest. The company filed its IPO prospectus with the U.S. Securities and Exchange Commission (SEC) this Monday. According to documents submitted to the SEC, DayOne is headquartered in Singapore; revenue for the first half of the year more than tripled year-over-year to $512 million, while net losses widened from $13.5 million to $81.9 million during the same period.