GDS Holdings Prices Offering Below Range

By Markets MarketWatch Pulse

GDS Holdings Limited , a developer and operator of data centers in China, priced its initial public offering Wednesday below range at $10 per American depositary share to raise a total of $192.5 million. The company is selling 19.25 million American depositary shares, with each share representing eight class A ordinary shares. GDS had initially set a price range of $12 to $15 a share. Credit Suisse, J.P. Morgan, Citigroup Global Markets Inc., RBC Capital Markets, LLC and China Renaissance Securities (Hong Kong) Limited are joint book-running managers. Underwriters have a 30-day option to buy up to 2.89 million American depositary shares. Shares are expected to start trading Wednesday on the Nasdaq under the symbol "GDS."

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.