GDS Holdings launches C-REIT IPO on Shanghai Stock Exchange

GDS Holdings announced the launch of an initial public offering (IPO) of its NF GDS Data Center Infrastructure Real Estate Investment Trust (C-REIT) on the Shanghai Stock Exchange. The transaction involves the sale of 100% equity interest in a project company holding stabilized data center assets to the newly formed C-REIT. GDS will subscribe for 20% of the units issued, while the remaining 80% will be offered to institutional and retail investors, with 50% already pre-placed with cornerstone investors under lock-up agreements. The underlying data center assets are valued at approximately RMB1,933 million. The final C-REIT unit price will be determined after institutional bookbuilding, expected to be completed within one week. The transaction is expected to close within the next few weeks, subject to customary closing conditions.