GDS Holdings Limited Completes US$192.5 Million NASDAQ IPO
11.07.16
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The Firm represented GDS Holdings Limited (“GDS”) in connection with its initial public offering and listing on the NASDAQ Global Market of 19,250,000 American Depositary Shares, representing 154,000,000 Class A ordinary shares. The total offering size was US$192.5 million before exercise of the underwriters’ overallotment option. Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., RBC Capital Markets, LLC and China Renaissance Securities (Hong Kong) Limited acted as joint bookrunning managers of the offering.
GDS is a leading developer and operator of high-performance data centers in China. GDS’s facilities are strategically located in China’s primary economic hubs where demand for high-performance data center services is concentrated. GDS has a 15-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. According to industry survey, GDS is the largest service provider in the high-performance carrier-neutral data center services market in China, with 24.9% market share as measured by area committed as of September 30, 2016.
The Simpson Thacher team for the transaction included Daniel Fertig, David Lee and Calvin Kung (Corporate); Jonathan Cantor and Jacqueline Clinton (Tax); and Tristan Brown and Leah Segall (ECEB). Summer Associate Justin Calderon also provided valuable assistance.