data cloud: For its IPO, GDS will sell 19.25 million American Depositary Shares with the price set at 10 US dollars per share, according to Global Times China. The company is expected to raise about 200 million US dollars from investors. GDS has listed on the Nasdaq Global Market, where US tech giants Apple, Amazon and Facebook and China Baidu and JD.com are traded. It is the highest financing volume for a Chinese tech company pursuing an IPO in the United States this year, according to Yeeli Hua Zheng, China Chief Representative with Nasdaq. GDS chairman and CEO Huang Wei said the company will use the money to invest in improving and expanding facilities in the cities to offer high-quality services as demand for big data and cloud computing continues to grow among tech and financial companies. GDS facilities are strategically located in China primary economic hubs such as Beijing, Shanghai, Chengdu and Shenzhen, where demand for high-performance data center services is concentrated.
(news.financializer.com). As
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