The Chinese data centre operators plan to use$404m of the net proceeds from the offering in connection with the development and acquisition of new data centres,with the remaining amounts to be used for general corporate purposes.
GDS Holdings Limited(NASDAQ:GDS)raised a total of approximately$445m in proceeds from its public offering after the underwriters’exercise in full of their option to purchase additional ADSs,after deducting underwriting discounts and commissions(but before expenses).
The company announced that the underwriters of its previously announced public offering have exercised in full their option to purchase an additional 1,791,044 ADSs from GDS at the public offering price of$33.50 per ADS,with each ADS representing eight Class A ordinary shares.
It has been revealed that J.P.Morgan Securities LLC,Morgan Stanley&Co.LLC and RBC Capital Markets,LLC wil be acting as joint book-running managers for the proposed offering,and Cowen,Credit Agricole Securities,Haitong International,Raymond James and SunTrust Robinson Humphrey,are acting as co-managers.
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The securities above are all being offered by GDS pursuant to a shelf registration statement filed by GDS with the Securities and Exchange Commission that automatically became effective as of January 23,2018,according to the company.
Last year,the Chinese data centre services firm’s shareholders were reportedly suing them for alleged violations of trading laws,and had filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between 2 November 2016 and 21 July 2018.
The shareholders were being represented by shareholder rights law firm Robbins Arroyo LLP,who also announced the action in December 2018.
The company’s portfolio amounts to 17 self-developed carrier-neutral data centre facilities in service and under construction totalling 1.2 million colocation sq ft in some of China’s Tier 1 cities,including Beijing,Shanghai,Shenzhen,Guangzhou,and Chengdu.
Related:Insights: GDS surging to become the largest neutral data center operator in China
