ChinaCache International Holdings, a provider of Internet content and application delivery services, announced terms for its IPO on Wednesday. The Beijing-based company plans to raise $61 million by offering 5.5 million ADSs (19% insider) at a price range of $10-$12. At the mid-point of the proposed range, ChinaCache will command a market value of $250 million. The Internet company, which was founded in 1998 and booked $40 million in sales last year, plans to list on the NASDAQ under the symbol CCIH. BofA Merrill Lynch and Deutsche Bank Securities are the lead underwriters on the deal, which is expected to price during the week of September 27. ChinaCache is the third China-based company and seventh company overall to announce terms for its IPO so far this week.
