Home > All insights > Carrier-Neutral Hyperscale Data Center Solution Provider CHINDATA GROUP HOLDINGS Files for $500 Million US IPO
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Carrier-Neutral Hyperscale Data Center Solution Provider CHINDATA GROUP HOLDINGS Files for $500 Million US IPO
2020-09-24

Esther Thin

Chindata Group Holdings Limited, a carrier-neutral hyperscale data center solution provider, has filed Form Amendment No 2 to F-1 Registration Statement on September 23, 2020 with U.S Securities and Exchange Commission to announce terms for its IPO.

The company plans to raise $500 million by offering 40 million shares at the price range of $11.50 to $13.50. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $4.5 billion.

The company was the first rank in the carrier-neutral hyperscale data center market in Asia-Pacific emerging markets in terms of capacity in service. They are also a first mover in building next-generation hyper-scale data centers in the markets they serve.

The Beijing, China-based company was founded in 2015 and booked $211 million in pro forma sales for the 12 months ended June 30, 2020. It plans to list on the Nasdaq Select Market under the symbol “CD.” Morgan Stanley and Citi are underwriters of the IPO.

The company engages Kirkland & Ellis International LLP as US Securities Counsel, and Ernst & Young Hua Ming LLP as Independent Auditor.

#ipo #nasdaq #Chindata #EY #datacenter

 

 

 

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