Fenwick & West represented the underwriters in the initial public offering for GDS Holdings Limited (NASDAQ: GDS), a leading developer and operator of high-performance data centers in China. The company offered 19,250,000 of American depositary shares (ADSs) at a price to the public of $10.00 per share. As part of the offering, GDS Holdings granted the underwriters a 30-day option to purchase up to an additional 2,887,500 shares of ADSs at the offering price.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., RBC Capital Markets, LLC and China Renaissance Securities (Hong Kong) Limited acted as joint book-running managers of the offering and Credit Agricole Securities (USA) Inc. acted as co-manager of the offering.
The Fenwick transaction team included Shanghai-based corporate partner, Karen Yan, U.S. based corporate partners, Gordon Davidson and Bill Hughes, tax partner Adam Halpern, Shanghai-based corporate associates, Ben Yao, Daisy Chen, Alan Huang, and tax associate Sophia Huang, and U.S.-based corporate associates, James Li, Eric Li and Melissa Frayer.