Chindata to price $540m US IPO high

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By Jonathan Breen
30 Sep 2020

Chinese data centre operator Chinadata Group Holdings has guided investors to the top of price guidance for its Nasdaq listing, eyeing $540m from the deal, according to a source familiar with matter.

The issuer is floating 40m American depositary shares (ADS), each representing two of its class A ordinary shares. The offer also includes a 15% greenshoe of 6m additional ADS. 

Lead underwriters Citi and Morgan Stanley, working with China Renaissance and UBS, marketed the stock at between $11.50 and $13.50 ...

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