21Vianet files for IPO in US
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21 Vianet Group Inc. is a leading Internet data center service provider in China. |
21Vianet Group Inc., China's largest carrier-neutral Internet data center service provider, filed with the U.S. Securities and Exchange Commission on Monday to raise up to US$150 million in funds through an initial public offering on the NASDAQ.
According to 21Vianet's filings, the company plans to list on the NASDAQ under the symbol “VNET,” with Morgan Stanley, Barclays Capital and J.P. Morgan being its lead underwriters.
Funds raised through the IPO will be used to expand the company's data center infrastructure and network infrastructure, replenish its working capital and used for other general corporate purposes, including research and development, and strategic investment and acquisition, 21Vianet said.
21Vianet did not disclose information about the pricing term and timing of the IPO.
Founded in 1999, 21Vianet mainly provides Internet data center services, value-added telecommunications services and comprehensive industry solutions. The company operates 47 data centers in 33 cities throughout China, including all of China's major Internet hubs, with over 5,700 cabinets under management housing over 39,000 servers.
21Vianet has been reporting losses in the past three years, with its net losses widening from $17.95 million in 2008 to $247 million in 2010.
China's business press carried the story above on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.
