The initial public offering for GDS Holdings Ltd. GDS will be hosted on Wednesday, and the company expects to sell 19.3 million shares at a price of $12.00 to $14.00 per share, raising a total of $251 million.
Shares will be listed in the Nasdaq exchange under the GDS ticker.
Following the poor opening of Chinese giant ZTO Express Inc ZTO, traders may be worried about the GDS debut.
Sources told Benzinga Tuesday the GDS Holdings deal is expected to price well below the initial IPO range of $12.00 to $14.00 per share. Sources indicated they anticipate an opening price around $10.00 per share.
The 13-year-old China-based developer and operator of high-performance data centers posted revenues of $127 million for the 12 months ended June 30, 2016.
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