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Home > Data Center > GDS raises $505 million

GDS raises $505 million

GDS Holdings Limited announced that two long-term investors have agreed to purchase a total of $505 million of newly issued Class A ordinary shares.

Erdem Yasar by Erdem Yasar
June 30, 2020
in Data Center
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Data center operator and developer GDS Holdings Limited announced that Hillhouse Capital and ST Telemedia Global Data Centres have agreed to purchase, through a private placement, a total of $505 million of newly issued Class A ordinary shares of the Company at a price equivalent to $65 per ADS. According to the announcement, the private placement represents approximately 5.1% of the Company’s total outstanding shares. Hillhouse will subscribe $400 million and STT GDC will subscribe $105 million.

Potential acquisition opportunities

William Huang, Chairman and Chief Executive Officer of GDS
William Huang, Chairman and Chief Executive Officer of GDS

The company announced that, after the investment, Hillhouse’s ownership position in GDS will be approximately 3.9% and STT GDC will be approximately 34.2%. The capital will be used by GDS for its organic data center development, potential acquisition opportunities, and other general corporate purposes. William Huang, Chairman and Chief Executive Officer of GDS said,

“I am very pleased to secure this capital to support our growth at a time when new IT infrastructure development in China is going to a higher level. Furthermore, I am very pleased to have done it in a way which adds value to GDS and strengthens our shareholder base. Hillhouse is one of the most respected investors, and we look forward to working with them over the long term. I also very much appreciate the on-going support from our strategic partner, STT GDC.”

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Tags: Global Data Solutions (GDS)
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Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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