(Bloomberg) -- GDS Holdings Ltd. raised $1 billion from mostly new US investors for its data center operations outside of mainland China.
Coatue Management led the investment in GDS’s international affiliate, DigitalLand Holdings Ltd., along with “substantial participation” by Baupost Group, according to a statement dated Oct. 29. DigitalLand is also known as GDS International or GDSI.
The statement confirmed a Bloomberg News report in August.
GDS said it will hold a stake of about 37.6% in GDSI, which was established in 2022 and is headquartered in Singapore. It has 480 megawatts of data center capacity in service and under construction, with another 590 MW for development in places including Hong Kong, Singapore and Batam in Indonesia.
GDS is also looking to raise another $2.3 billion in loans for its operations in Malaysia and is considering an initial public offering of the international unit as soon as next year, Bloomberg has reported.
©2024 Bloomberg L.P.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.