GDS Holdings, a carrier-neutral Internet data center services provider in China, announced terms for its IPO on Wednesday.
The Shanghai, China-based company plans to raise $250 million by offering 19.3 million ADSs at a price range of $12 to $14. At the midpoint of the proposed range, GDS Holdings would command a fully diluted market value of $1.2 billion.
GDS Holdings was founded in 2003 and booked $127 million in revenue for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol GDS. Credit Suisse, J.P. Morgan, Citi, RBC Capital Markets and China Renaissance are the joint bookrunners on the deal. It is expected to price during the week of October 31, 2016.
