GDS Announces Pricing of Public Offering of ADSs

SHANGHAI, China, Dec. 05, 2019 (GLOBE NEWSWIRE) -- GDS Holdings Limited (“GDS” or the “Company”) (Nasdaq: GDS) today announced the pricing of a public offering by it of 5,494,505 American Depositary Shares (“ADSs”), each representing eight of its Class A ordinary shares, at a public offering price of US$45.50 per ADS. The underwriters have been granted a 30-day option to purchase up to an additional 824,175 ADSs from GDS at the same price.

The offering is expected to close on December 10, 2019, subject to customary closing conditions.

GDS intends to use approximately US$190 million of the net proceeds from this offering to fund a portion of the cash consideration and assumed liabilities for the acquisition of three data centers at a campus located in Shunyi district, Beijing, which we refer to as Beijing 10, Beijing 11 and Beijing 12 (“the Acquisition”), and use the remaining net proceeds from this offering, or all of the net proceeds from this offering if the Acquisition is not consummated, to fund other land, building, and data center acquisitions and for general corporate purposes.

J.P. Morgan, RBC Capital Markets, BofA Securities and Haitong International are acting as joint book-running managers for the proposed offering.

The securities described above are being offered by GDS pursuant to a shelf registration statement filed by GDS with the Securities and Exchange Commission (the “SEC”) that automatically became effective as of January 23, 2018. The offering is being made only by means of an effective shelf registration statement, including a preliminary prospectus supplement and final prospectus, which was or will be filed with the SEC and available on the SEC’s website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the final prospectus relating to this offering, when available, may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204 or by email at [e-mail]; RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, or by telephone at [phone] or by email at [e-mail]; BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, telephone: [phone], email: [e-mail]; or Haitong International Securities Company Limited, 22/F, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong, Attention: Equity Capital Markets, or by telephone at [phone] or by email at [e-mail].