GDS-SW stock plummeted 6.12% during intraday trading on Wednesday, reflecting significant negative market sentiment toward the company.

The sharp decline follows news that GDS Holdings' international subsidiary, DayOne Data Centers, is considering a dual IPO in Singapore and the United States, targeting approximately $5 billion in fundraising with a potential valuation of around $200 billion. Market participants have expressed short-term concerns over potential capital flow diversion from the parent company and uncertainties surrounding parent-subsidiary relationship restructuring.

Additionally, broader weakness in the Internet Services and Infrastructure sector contributed to the negative sentiment, with several peers also trading lower during the session.