21Vianet Group, which is the largest carrier-neutral Internet data centre services provider in China, has announced terms for its IPO. The Beijing, China-based company plans to raise US$127 million by offering 11.5 million shares at a price range of US$10.00 to US$12.00.
21Vianet Group, which was founded in 1999 and booked $80 million in sales over the last 12 months, plans to list on the NASDAQ under the symbol VNET. Morgan Stanley, Barclays Capital, and J.P. Morgan are the lead underwriters on the deal, which is expected to price during the week of April 18.
Source: Renaissance Capital