Chinese data center owner ChinData files for US IPO

Chinese data center owner ChinData Group filed for a U.S. initial public offering, joining several other IPOs from Chinese companies despite rising geopolitical tensions between Beijing and Washington.

The news comes about a week after Reuters reported that the Bain Capital-backed firm is preparing for a confidential filing to raise up to $400 million, citing two sources with direct knowledge of the matter.

The company intends to list its American depository shares on the Nasdaq under the ticker symbol “CD”, it said in a regulatory filing https://www.sec.gov/Archives/edgar/data/1807192/000119312520241010/d853939df1.htm on Tuesday.

The number of ADSs to be offered and the price range for the proposed offering have not yet been determined, the company said.

ChinData said it plans to use about 70% of net proceeds from the offering for development and construction of new data center projects and about 20% for potential investment or acquisition of assets.

Morgan Stanley & Co and Citigroup Global Markets are acting as joint bookrunners for the proposed offering, with UBS Securities and China Renaissance Securities (Hong Kong) acting as underwriters.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.