GDS starts beyond offer rate in HK listing

GDS starts beyond offer rate in HK listing

GDS Holding Limited, a Chinese data centre company has opened over the expectations in the Hong Kong market after drawing in $ 1.67 billion. 


The listing is second in the line for the Chinese company over the years in the HK market. Early on Monday, its shares opened at HK$81.  


Interestingly, it is among a few Chinese companies that are trading in the US and selling them in the financial hub. Notably, the Sino-US tensions are simmering up tensions for a while now. 


The GDS based in Shanghai let off around 160 million shares in the listing at Hong Kong. On Friday, its stocks listed at Nasdaq ended the day at $84.04. 


GDS is among Chinese companies listed in the United States that are selling their shares in Hong Kong with an intent to amplify expansionist vision. Reportedly, in this year alone, more than $ 15 billion has been raised by secondary listing in the country. 


The joint sponsors of the listing included Bank of America Corporation, JPMorgan Chase, Haitong International Securities Group Limited and China International Capital Corporation. 


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