An image from its website shows a 21Vianet data center
(WEB HOST INDUSTRY REVIEW) – Chinese data center services provider 21Vianet Group Inc. (www.21vianet.com) raised $195 million in its initial public offering on Wednesday, according to a report by Reuters.
According to the article, 21Vianet sold more shares than planned for a price $2 above the proposed range. The firm sold 13 million American depositary shares for $15 each.
21Vianet has been operating at a loss for the past three years, despite being “the largest (company) of its kind in China by revenue,” Reuters says.
The company hosts servers and networking equipment, and recently has stepped into the cloud computing market.
The filing with the U.S. Securities and Exchange Commission says that 21Vianet plans to use the proceeds from its IPO to expand its data center and infrastructure.
The Wall Street Journal claims that “data center operators are attractive investments these days, as more companies seek to outsource the space and technology required to support their Internet needs.”
Its shares are expected to trade Thursday under the ticker symbol VNET.
Morgan Stanley, Barclays Capital and JPMorgan led underwriters on the offering, according to Reuters.
In January 2011, European data center firm InterXion started trading on the New York Stock Exchange. Its IPO was priced at $13 per share.
About Nicole Henderson
Nicole Henderson writes full-time for the Web Host Industry Review where she covers daily news and features online, as well as in print. She has a bachelor of journalism from Ryerson University in Toronto, and has been writing for the WHIR since September 2010. You can find her on Twitter @NicoleHenderson.
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