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GDS Holdings (GDS) Stock News, Apr-May 2025

GDS Nasdaq

GDS Holdings Limited reports developments tied to its high-performance data center business in China and its securities listed on Nasdaq and HKEX. News commonly covers unaudited quarterly and annual results, Form 20-F filing announcements, earnings-call schedules, and data center demand from hyperscale cloud providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and enterprise customers.

Company updates also include shareholder meetings, amendments to articles of association, preferred-share and ordinary-share voting matters, capital-structure actions, and its minority equity interest in DayOne Data Centers Limited, a Singapore-headquartered hyperscale data center platform.

News

GDS Announces Closing of Offering of US$550 Million Convertible Senior Notes and Full Exercise of Option to Purchase Additional Notes

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GDS Holdings announced the closing of its US$550 million convertible senior notes offering due 2032, including the full exercise of a US$50 million option. The notes, bearing 2.25% annual interest payable semiannually, were sold to qualified institutional buyers under Rule 144A. The company received net proceeds of US$534.9 million, intended for working capital and refinancing existing debt. The notes have an initial conversion rate of 30.2343 ADSs per US$1,000 principal, equivalent to US$33.08 per ADS, representing a 35% premium over the US$24.50 ADS public offering price. Holders can convert notes to cash, ADSs, or a combination thereof. Additionally, GDS completed a Delta Placement of 6 million borrowed ADSs and a Primary ADSs Offering of 5.98 million ADSs, with underwriters fully exercising their option for 780,000 additional ADSs.
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GDS Prices Offering of American Depositary Shares in connection with the Delta Placement of Borrowed ADSs

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GDS Holdings announced the pricing of multiple concurrent offerings: a Delta Placement of 6 million Borrowed ADSs at $24.50 per ADS, a $500 million convertible senior notes offering due 2032 with a 2.25% interest rate, and a Primary ADS offering of 5.2 million ADSs at the same price. The Borrowed ADSs will be loaned to an affiliate of the underwriter, who will use the short position to facilitate derivatives transactions related to the Notes. GDS will not receive proceeds from the Borrowed ADSs sale but will get a nominal lending fee. The Notes offering was upsized from $450 million, with an option for additional $50 million. The Primary ADS offering includes a 30-day option for 780,000 additional ADSs. All three offerings are conditionally linked to each other's completion.
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GDS Announces Pricing of Public Offering of ADSs

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GDS Holdings announced the pricing of multiple offerings: a public offering of 5.2 million American Depositary Shares (ADSs) at $24.50 per ADS, expected to raise approximately $123 million in net proceeds (or $141.6 million if underwriters exercise their option to purchase additional ADSs). The company also priced a $500 million offering of 2.25% convertible senior notes due 2032 and a separate placement of 6 million borrowed ADSs at $24.50 per ADS. The net proceeds from the primary ADS offering will be used for general corporate purposes, working capital, and refinancing existing debt. The offerings are expected to close on May 30, 2025, with each offering's completion contingent on the others. J.P. Morgan, BofA Securities, Morgan Stanley, and UBS Investment Bank are serving as joint book-running managers.
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GDS Prices Offering of US$500 Million Convertible Senior Notes

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GDS Holdings announced the pricing of US$500 million convertible senior notes due 2032, with a 2.25% interest rate. The offering size was increased from the initially planned $450 million, with an additional option for purchasers to buy up to $50 million more. The notes will be convertible at 30.2343 ADSs per $1,000 principal amount, equivalent to a conversion price of $33.08 per ADS, representing a 35% premium above the public offering price of $24.50. The company expects net proceeds of $486.1 million (or $534.9 million if the additional option is exercised), which will be used for working capital and refinancing existing debt. Alongside this, GDS announced a Delta Placement of 6,000,000 borrowed ADSs and a Primary ADSs Offering of 5,200,000 ADSs at $24.50 per ADS.
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GDS Announces Launch of Proposed Public Offering of ADSs

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GDS Holdings, a leading Chinese data center operator, has announced a comprehensive financing initiative consisting of three concurrent offerings. The company is launching: (1) A public offering of 5.2 million American Depositary Shares (ADSs) with an additional 30-day option for underwriters to purchase 780,000 ADSs; (2) A private offering of US$450 million convertible senior notes due 2032 with an option for additional US$50 million; and (3) A Delta Placement of Borrowed ADSs to facilitate hedging transactions. The net proceeds from the ADS offering will be used for general corporate purposes, working capital, and refinancing existing debt, including potential repurchases of convertible bonds due 2029. The offerings are interconnected, with the closing of each offering contingent upon the completion of the others.
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GDS Announces Proposed Offering of American Depositary Shares in connection with the Delta Placement of Borrowed ADSs

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GDS Holdings, a leading Chinese data center operator, has announced a complex financing transaction involving three concurrent offerings: (1) A registered public offering of borrowed American Depositary Shares (ADSs) through a Delta Placement, (2) A US$450 million convertible senior notes offering due 2032 with an additional US$50 million option, and (3) A Primary ADS offering of 5,200,000 shares with an option for 780,000 additional ADSs. The Delta Placement involves lending ADSs to facilitate hedging by Notes investors, with the ADS Borrower receiving all proceeds. GDS will not receive proceeds from the Delta Placement but will get a nominal lending fee. The company believes these borrowed ADSs won't affect earnings per ADS calculations. All three offerings are interdependent, and if one fails, the others will terminate.
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GDS Announces Proposed Offering of US$450 Million Convertible Senior Notes

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GDS Holdings announced a proposed offering of US$450 million convertible senior notes due 2032, with an option for purchasers to buy an additional US$50 million. The notes will be convertible into ADSs or Class A ordinary shares, with conversion available under certain conditions before December 1, 2031, and freely thereafter. The company plans to use proceeds for working capital and refinancing existing debt, including potential repurchases of 2029 convertible bonds. Additionally, GDS announced two concurrent offerings: a Delta Placement of Borrowed ADSs and a Primary ADSs Offering of 5,200,000 ADSs with an option for 780,000 more. The notes include provisions for tax redemption, cleanup redemption, and optional redemption after June 6, 2029, with holders having the right to require repurchase on June 1, 2029.
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GDS Holdings Limited Reports First Quarter 2025 Results

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GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) reported strong Q1 2025 financial results. Net revenue increased 12.0% Y-o-Y to RMB2,723.2 million (US$375.3 million). The company achieved a significant turnaround with net income of RMB764.1 million (US$105.3 million), compared to a net loss in Q1 2024. Adjusted EBITDA grew 16.1% Y-o-Y to RMB1,323.8 million with a margin of 48.6%. Operationally, total area committed increased 6.7% Y-o-Y to 649,561 sqm, while area utilized rose 14.6% Y-o-Y to 462,423 sqm. The company completed China's first data center ABS transaction, receiving initial proceeds of RMB897.1 million. GDS maintained its 2025 guidance with expected revenues of RMB11,290-11,590 million and Adjusted EBITDA of RMB5,190-5,390 million.
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GDS to Report First Quarter 2025 Financial Results Before the Open of the U.S. Market on May 20, 2025

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GDS Holdings (NASDAQ: GDS; HKEX: 9698), China's leading data center developer and operator, has scheduled its Q1 2025 earnings release for May 20, 2025. The financial results will be announced after Hong Kong market hours and before U.S. market opening. Management will host an earnings conference call at 8:00 AM U.S. Eastern Time (8:00 PM Hong Kong Time) on the same day.

Participants must register online at least 15 minutes before the call to receive access information. The call will also be available via webcast on the company's investor relations website.

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GDS Files 2024 Annual Report on Form 20-F

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GDS Holdings (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, has announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2024. The report was filed with the Securities and Exchange Commission (SEC) on April 28, 2025.

The annual report is accessible through the company's investor relations website at investors.gds-services.com and the SEC's website at www.sec.gov. GDS will provide free hardcopies of the annual report to shareholders and ADS holders upon request via ir@gds-services.com.

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FAQ

What is the current stock price of GDS Holdings (GDS)?

GDS Holdings (GDS) last closed at $22.14.

What is the market cap of GDS Holdings (GDS)?

The market cap of GDS Holdings (GDS) is approximately $4.4B.