Loss-making 21Vianet finds good demand in US IPO

The $138 million IPO of 21Vianet, a Chinese data service provider, is “going well”, sources say.
China's internet population is estimated at 457 million
China's internet population is estimated at 457 million

Chinese internet companies do not need to be profitable to attract the attention of US investors these days. Demand for Chinese internet players has surged in the US during the past few months, even though their earning potential has rarely matched their share prices.

Cashing in on that momentum, 21Vianet, a Chinese data service provider, is looking to raise $138 million before a listing on Nasdaq to fund the development of its data centre and network infrastructure. The company kicked off bookbuilding for the deal last Thursday and the offering has been “going well”.

Cisco Systems, the California-based global technology company, which owns a 2.2% stake in...

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