India, June 26 -- GDS Holdings Limited (GDS), a developer and operator of data centers in China, Thursday said that the China Securities Regulatory Commission (CSRC) and Shanghai Stock Exchange have approved the registration and launch of an initial public offering (IPO) for its China REIT (C-REIT).
GDS plans to sell 100% equity interest in a project company which holds stabilized data center assets valued about RMB 1.933 billion, to a newly formed C-REIT, and through an IPO, C-REIT will fund the acquisition. GDS will subscribe 20% of the units issued by the C-REIT, while the remaining 80% will be subscribed by institutional and retail investors. 50% of the units have already been pre-placed with Cornerstone institutional investors, with l...