By Justina Lee
GDS Holdings Ltd. is planning to raise up to 13.76 billion Hong Kong dollars ($1.78 billion) from an initial public offering in Hong Kong, it said Wednesday.
The IT services management company said it is seeking to sell 160 million shares at an indicative price of HK$86 each.
The company plans to use the IPO proceeds to expand its data centers and develop new technologies.
GDS Holdings expects to determine the final IPO price on Oct. 27 and its shares to start trading on Nov. 2.
Haitong International and J.P. Morgan are among the book runners for the share sale.
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(END) Dow Jones Newswires