Chindata Group Holdings Ltd. (CD) Prices 40M ADS IPO at $13.50/ADS

Chindata Group Holdings Ltd. (NASDAQ; CD) today announced the pricing of the initial public offering (IPO) of 40,000,000 American Depositary Shares (ADSs) at $13.50 per ADS for a total offering size of US$540 million. Each ADS represents two Class A ordinary shares of Chindata Group. The ADSs are expected to begin trading on the Nasdaq Global Select Market on September 30, 2020 under the symbol "CD." The closing of the offering is expected to occur on October 2, 2020, subject to the satisfaction of customary closing conditions.

In addition, the Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 6,000,000 additional ADSs.

Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are acting as joint bookrunners and underwriter representatives for the offering. UBS Securities LLC and China Renaissance Securities (Hong Kong) Limited are acting as underwriters for the offering.

The offering is being made only by means of a prospectus.

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