21Vianet Group, which is the largest carrier-neutral Internet data center services provider in China, announced terms for its IPO on Wednesday. The Beijing, China-based company plans to raise $127 million by offering 11.5 million shares at a price range of $10.00 to $12.00. At the mid-point of the proposed range, 21Vianet Group will command a market value of $618 million. 21Vianet Group, which was founded in 1999 and booked $80 million in sales over the last 12 months, plans to list on the NASDAQ under the symbol VNET. Morgan Stanley, Barclays Capital, and J.P. Morgan are the lead underwriters on the deal, which is expected to price during the week of April 18.
