GDS Holdings Limited’s $460 Million Follow-On Offering


Simpson Thacher represented GDS Holdings Limited (“GDS”) in connection with its follow-on offering of 13,731,343 American Depositary Shares (ADSs), each representing eight of its Class A ordinary shares.

The offering raised a total of US$460 million in gross proceeds including full exercise of the underwriters’ overallotment option. GDS will use the net proceeds from the offering in connection with the development and acquisition of new data centers and for other general corporate purposes. J.P. Morgan Securities, Morgan Stanley and RBC Capital Markets acted as joint bookrunners.

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

The Simpson Thacher team for the transaction included Daniel Fertig (Picture) and Andrew Laub (Capital Markets); and Robert Holo and Chris Murray (Tax).

Involved fees earner: Daniel Fertig – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Andrew Laub – Simpson Thacher & Bartlett; Christopher Murray – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: GDS Holdings Limited;

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Author: Michael Patrini