Chindata, a Bain-backed Chinese knowledge middle operator, sets conditions for $500 million US IPO

Chindata Team Holdings, an integrated facts centre operator concentrating on Asia-Pacific emerging marketplaces, announced terms for its IPO on Wednesday. The Beijing, China-primarily based enterprise ideas to raise $500 million by supplying 40 million ADSs at a price vary of $11.50 to $13.50. The firm programs to increase an extra […]

Chindata Team Holdings, an integrated facts centre operator concentrating on Asia-Pacific emerging marketplaces, announced terms for its IPO on Wednesday.

The Beijing, China-primarily based enterprise ideas to raise $500 million by supplying 40 million ADSs at a price vary of $11.50 to $13.50. The firm programs to increase an extra $135 million in a concurrent private placement to State Garden Holdings and Shimao Group Holdings. At the midpoint of the proposed array, Chindata would command a thoroughly diluted industry price of $4.5 billion.

The business is a foremost service provider of provider-neutral hyperscale info centre remedies, focusing on the China, India, and Southeast Asia marketplaces. Chindata operates 6 hyperscale facts facilities in China and one particular in Malaysia, with complete capacity in assistance of 196 MW (90% contractually fully commited), and is developing five data centers in China and a single in India (234 MW of capability less than building).

Chindata Group Holdings was launched in 2015 and booked $212 million in revenue for the 12 months ended June 30, 2020. It options to list on the Nasdaq below the symbol CD. Morgan Stanley, Citi, UBS Expense Bank and China Renaissance are the joint bookrunners on the offer. It is predicted to value on Tuesday, September 29, 2020.

The post Chindata, a Bain-backed Chinese knowledge center operator, sets phrases for $500 million US IPO at first appeared on IPO investment decision supervisor Renaissance Capital’s website web-site renaissancecapital.com.

Investment decision Disclosure: The data and viewpoints expressed herein had been well prepared by Renaissance Capital’s analysis analysts and do not represent an supply to get or promote any safety. Renaissance Capital’s Renaissance IPO ETF (image: IPO), Renaissance Intercontinental ETF (symbol: IPOS), or individually managed institutional accounts may have investments in securities of corporations mentioned.

The sights and views expressed herein are the views and views of the author and do not automatically mirror people of Nasdaq, Inc.

Daniel

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