BRIEF: GDS completes IPO for its data center property REIT
Data center operator GDS Holdings Ltd. (GDS.US; 9698.HK) said on Wednesday it has completed the spin off and separate listing in Shanghai of a real estate investment trust (REIT) containing its China-based data center property assets.
GDS said the listing attracted strong investor interest, with the retail portion 455 times oversubscribed and the portion for institutional investors oversubscribed by 165 times. It did not say how much the listing raised. But previous reports said the company planned to sell 800 million shares for 3 yuan each, raising about 2.4 billion yuan ($335 million).
GDS said trading of the stock under the name NF GDS Data Center Infrastructure Real Estate Investment Trust (508060.SH) is expected to begin on the Shanghai Stock Exchange in early August. U.S.-listed shares of GDS rose 1.1% on Wednesday. The stock is up 61% this year.
By Doug Young
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