Bain-Backed Chindata Seeks Up to $540 Million in U.S. IPO
- Data center operator is selling 40 million depositary shares
- Data centers, cloud computing are popular themes for investors
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Chindata Group Holdings Ltd. is looking to raise as much as $540 million in its U.S. initial public offering, hoping to ride a wave of investor interest for companies seen to be benefiting from the stay-at-home trend.
Chindata plans to sell 40 million American depositary shares for $11.50 to $13.50 each, according to a filing Wednesday with the U.S. Securities and Exchange Commission. The company, backed by private equity firm Bain Capital, is a data center operator focused on China, India and Southeast Asia.