GDS Holdings Limited’s $328.9 Million Follow-On Offering


Simpson Thacher represented GDS Holdings Limited (“GDS”) in connection with its follow-on offering of 12,650,000 American Depositary Shares (ADSs), comprising 8,225,000 ADSs offered and sold by GDS and 4,425,000 ADSs offered and sold by certain selling shareholder entities affiliated with SBCVC Holdings Limited (“SBCVC”), representing an aggregate of 101,200,000 Class A ordinary shares.

The offering raised a total of US$328.9 million in gross proceeds including full exercise of the greenshoe, comprising US$213.85 million in gross proceeds to GDS and US$115.05 million in gross proceeds to SBCVC. RBC Capital Markets, J.P. Morgan and Citigroup acted as joint bookrunning managers of the offering.

GDS is a leading developer and operator of high-performance data centers in China. Its ADSs are traded on the NASDAQ Global Select Market under the symbol “GDS.”

The Simpson Thacher team for the transaction included Daniel Fertig (Picture) and Andrew Laub (Corporate); and Robert Holo and Jacqueline Clinton (Tax).

Involved fees earner: Daniel Fertig – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Jacqueline Clinton – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: GDS Holdings Limited;

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Author: Michael Patrini