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Bain may list ChinData: Bloomberg
Posted on Monday, 02 December 2019 11:39
Bain Capital has launched a bake-off for an initial public offering (IPO) of ChinData that could value the Chinese data centre operator at over USD 1.00 billion, sources close the situation told Bloomberg.
According to the people in the know, the private equity house is fielding interest from investment banks keen to win a position on a potential float, which may occur as early as next year.
They cautioned there is no guarantee Bain will pursue an IPO for the portfolio company and added no decision has been made on the size of the first-time share sale or the listing destination.
ChinData was established in 2015 as a carrier neutral information technology (IT) infrastructure provider in China, focused on ecosystem planning, design, building, testing and operations.
The Beijing-headquartered company provides a full range of services, such as campus-style data centres, internet services and IT value-added business.
Its customers include leading financial, internet, big data and artificial intelligence enterprises, as well as global hyper-scale cloud computing and technology organisations.
ChinData operates campus-style hyperscale data centres in Shenzhen, Beijing, Zhangjiakou and Datong, and has plans to expand across multiple locations.
Bain invested USD 570.00 million in the business earlier this year and subsequently merged it with its existing portfolio entity Bridge Data Centres to form a pan-Asian platform with facilities domestically, India, Singapore and Malaysia.
This cash injection in May is the sixth-largest deal by value to target data centre operators in 2019 to date, according to Zephyr, the M&A database published by Bureau van Dijk.
According to Zephyr, the USD 8.40 billion public takeover of InterXion by Digital Realty Trust is currently the biggest of the year.
© Zephus Ltd