Chindata Group (CD) IPO Opens Higher

Today's IPO for Chindata Group Holdings Ltd. (NASDAQ: CD) opened for trading at $14.50 after pricing 40,000,000 American Depositary Shares (ADSs) at $13.50 per ADS.

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.

Chindata Group is a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets and a first mover in building next-generation hyperscale data centers in China, India and Southeast Asia markets, focusing on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry. Chindata Group provides its clients with business solutions in major countries and regions in Asia-Pacific emerging markets, including asset-heavy ecosystem chain services such as industrial bases, data centers, network and IT value-added services.

Chindata Group operates two sub-brands: "Chindata" and "Bridge Data Centres". Chindata operates hyper-density IT cluster infrastructure in the Greater Beijing Area, the Yangtze River Delta Area and the Greater Bay Area, the three key economic areas in China, and has become the engine of the regional digital economies. Bridge Data Centres, with its top international development and operation talents in the industry, owns fast deployable data center clusters in Malaysia and India, and seeks business opportunities in other Asia-Pacific emerging markets.

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