CyrusOne raises $200M through sale of GDS shares

CyrusOne sold approximately 5.7 million American depository shares of GDS Holdings Limited for a total purchase price of approximately $200 million.

CyrusOne will continue to hold approximately 2.3 million ADSs, valued at approximately $90 million based on the GDS closing price on April 11, with the remaining shares being subject to a six-month lock up.

“GDS has created substantial value for its shareholders over the last 18 months, in turn allowing us to recycle capital and generate significant cash proceeds from the sale of shares, while maintaining a position that approximates our original investment,” said Wojtaszek. “This transaction replaces a meaningful portion of our equity capital requirements for the year, with the proceeds being deployed to fund attractive, profitable growth opportunities. William and his team have been fantastic partners, and the nearly 20 megawatts of leases we signed last year with Chinese hyperscale companies was a direct result of our relationship with GDS. As two of the fastest-growing data center companies, we look forward to continuing to work together to capitalize on the strong underlying secular demand trends and meet the needs of our customers in the two biggest economies in the world.”