GDS (HKG:9698) is looking to raise about $500 million from an initial public offering of DayOne, its international arm in the US, Bloomberg News reported Tuesday, citing people familiar with the matter.
DayOne is looking to commence its US IPO as soon as 2025, the report said.
The Chinese data center operator's global unit, formerly known as GDS International, is now recruiting banks to help with the offering, according to the report.
Talks are still ongoing and may not lead to a deal, the report said.
Shares in GDS jumped 8% during Wednesday's afternoon trading.
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