GDS Announces the Final Offering Price for its C-REIT Initial Public Offering on the Shanghai Stock Exchange

SHANGHAI, China, July 02, 2025 (GLOBE NEWSWIRE) -- GDS Holdings Limited ("GDS Holdings", "GDS" or the "Company") (NASDAQ:GDS, HKEX: 9698)), a leading developer and operator of high-performance data centers in China, today announced that the final offering price for its previously announced China REIT ("C-REIT") initial public offering ("IPO") on the Shanghai Stock Exchange is RMB 3.00 per unit. The final offering price was determined following completion of the institutional bookbuilding, which was 166 times over-subscribed. The C-REIT will issue 800,000,000 units in total, representing 100% of units in issue on completion of the IPO. The gross proceeds to be received by the C-REIT is RMB 2,400 million.

At the final offering price, the implied EV / EBITDA, based on the projected EBITDA for 2026 for the C-REIT contained in the offering memorandum of RMB 141.8 million, is 16.9 times. At the final offering price, the implied dividend yield per unit, based on the projected cash flow available for distribution for 2026 contained in the offering memorandum of RMB 124.8 million, is 5.2 ...