Bloomberg · U.S. · Goldman Sachs · Datacenter Dynamics
Vantage, CyrusOne, and DayOne all plan IPOs with potential record breaking valuations
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Vantage, CyrusOne, and DayOne are all planning initial public offerings (IPO) with valuations in the multiple billions, according to reports from Reuters and Bloomberg.
Key facts
- An IPO would see CyrusOne return to the public markets, after KKR and GIP took the company private in 2022, following its previous IPO in 2013
- Earlier this year, Ares Management Corporation arranged a $2.4 billion debt facility for Vantage to refinance the company’s existing debt and support its North American build out
- In January, the company said it had repurchased some of its shares worth $385 million from GDS, though the Chinese firm remains a significant minority shareholder
- However, one source told Reuters that a public listing could raise about $5 billion
Summary
The three companies are all developers and operators of data centers, with each IPO potentially breaking records in the sector. AI-infrastructure growth has lifted the lid on the data center industry, driving up valuations and fuelling significant investment, including IPOs, mergers, and acquisitions. Citing, that Vantage is exploring an IPO or sale as soon as next year. Vantage has engaged in preliminary discussions over the past few weeks, but no formal process has been launched, and all deliberations remain at an early stage.