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GDS -1.7% on $250M ADS offering

Dec. 04, 2019 6:40 PM ETGDS Holdings Limited (GDS) StockGDSBy: Jason Aycock, SA News Editor3 Comments
  • GDS Holdings (NASDAQ:GDS) is 1.7% lower after hours following news that it will offer and sell about $250M in American Depositary Shares.
  • Each ADS represents eight of the company's class A ordinary shares.
  • Underwriters will get a 30-day greenshoe option to buy about $37.5M more.
  • The company intends to use about $190M of the net proceeds to help fund acquisition of three data centers in the Shunyi district of Beijing.

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