>>10854856 (lb)(notable) Chinese data center operator Chindata raises $540 million in U.S. IPO

There's moar.

==Chindata Group - Main Customer = [ByteDance] 68% and 82% of Revenue (2019)==

Details:

(seekingalpha.com - Sep 24, 2020)

GDS, 21Vianet rival Chindata files for $540M IPO; trading starts Sept. 30

Sep. 24, 2020 11:04 AM ET|About: Chindata Group Holdings Ltd

Bain-backed hyperscale data center solution provider Chindata (CD) riles to sell 40M ADSs for $11.50 to $13.50, which would carry a $4.9B valuation at the upper end of the range.

Underwriters have a 30-day option to purchase an additional 6M ADSs at the offering price.

Chindata's data centers focus on the China, India, and Southeast Asia markets. The company has six hyperscale centers in China and one in Malaysia, and Chindata is constructing five centers in China and one in India.

Financials: Revenue increased from RMB98.5M in 2018 to RMB853M while the net loss increased from RMB138.2M to RMB169.7M. For H1, revenue grew from RMB221.5M (2019) to RMB810.06M (2020) . The net loss decreased from RMB94.9M to RMB59.4M, respectively.

Major clients: ByteDance (BDNCE) and related company Wangsu, which accounted for 68% and 82% (including overlap) of Chindata's total revenue last year.

In a concurrent secondary offering, Joyful Phoenix, SCEP MAster Fund, and Shiying Finance have agreed to purchase $65M, $40M, and $30M of Class A shares, respectively, at the offering price.

Each ADS is equal to one Class A shares. Chindata's Class B shares are all owned by CEO Jing Ju and Bain Capital and the duo will hold around 95% of the voting power.

Chindata will start trading on the Nasdaq under the ticker "CD" on Wednesday, September 30.

Chindata competes with GDS Holdings (GDS -0.1%) and 21Vianet (VNET -0.7%).

https://seekingalpha.com/news/3617068-gds-21vianet-rival-chindata-files-for-540m-ipo-trading-starts-sept-30

https://www.chindatagroup.com/about_us.html