Bain-Backed Chindata to Raise $540 Million in U.S. IPO
- Data center operator prices Nasdaq IPO at top of the range
- Data centers, cloud computing are popular themes for investors
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Chindata Group Holdings Ltd. has raised $540 million in its U.S. initial public offering after pricing at the top of a marketed range, according to people familiar with the matter.
The Chinese data center operator, which is backed by private equity firm Bain Capital, sold 40 million American depositary shares at $13.50 each, the people said, asking not to be identified as the information is private. Chindata had set a price range of $11.50-$13.50 apiece.