Add as a preferred source on GoogleDayOne Weighs Delay or Smaller U.S. IPO Amid Data Center Volatility
A smaller offering could raise $2.5 billion to $3 billion, compared with an earlier target of as much as $5 billion.
DayOne is weighing a delay or smaller U.S. initial public offering as volatility in data center shares complicates a potential multibillion-dollar listing.
One option is a sale raising $2.5 billion to $3 billion, roughly half the amount previously contemplated. Earlier plans considered raising as much as $5 billion at a valuation of about $20 billion, with a launch possible in the fourth quarter.
The Singapore-headquartered operator has been waiting for a suitable window to begin the offering. Postponing the sale until market conditions settle is also under discussion. DayOne has made no final decision.
DayOne operates data centers. DayOne declined to comment.
DayOne continues to speak with potential investors and could proceed with the IPO in the coming weeks if market conditions permit.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.