A growing number of Chinese technology companies are moving their headquarters to Singapore in order to attract Western investors and expand globally, Asia Tech Review reports.
The strategy has even been given a name: the “Singapore Flip.”
The trend is now reaching the Nordic region. The data centre operator DayOne has recently opened a large facility in Finland, in the city of Lahti. It is the company’s first project in Europe.
DayOne was created from the international assets of GDS Holdings, China’s largest data centre operator. By separating its global operations and bringing in international investors, the company has positioned itself as an independent global player.
The strategy became widely discussed earlier this year when the US tech giant Meta agreed to buy the AI startup Manus for 2.5 billion dollars.
Manus was originally a Chinese company. But after relocating its headquarters to Singapore and closing its Chinese offices, it became easier for an American company to acquire.
According to media reports, DayOne is now preparing a possible US stock market listing that could raise around 5 billion dollars and value the company at about 20 billion dollars.
[…] A growing number of Chinese technology companies are moving their headquarters to Singapore in order to attract Western investors and expand globally, Asia Tech Review reports. (scandasia.com) […]