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GDS Poised to Raise $1.67 Billion in Hong Kong Listing

  • Data center operator prices share sale at HK$80.88 each
  • U.S.-listed Chinese firms are selling shares in Hong Kong
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Photographer: Andrey Rudakov/Bloomberg
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Data center company GDS Holdings Ltd. has raised HK$12.9 billion ($1.67 billion) in its Hong Kong second listing, following in the steps of other U.S.-listed Chinese firms in seeking a trading foothold closer to home.

The Shanghai-based firm priced shares at HK$80.88 each, according to terms of the deal obtained by Bloomberg News. That represents a 3% discount to the closing price Monday of its Nasdaq-listed American depositary shares, at $86.04 apiece. One ADS represents 8 ordinary shares. GDS sold 160 million shares in its Hong Kong listing and had set a maximum price of HK$86 apiece.