Deal sells 53,855,569 shares, which are represented by 3,365,973 ADS
By Devika Patel
Knoxville, Tenn., March 3 - ChinaCache International Holdings Ltd. said it plans a $55 million private placement of stock.
The company will sell 53,855,569 ordinary shares at $1.02125 apiece, a 95.16% discount to the closing share price of $21.10 on Feb. 28. The shares are represented by 3,365,973 American Depositary Shares, for a price of $16.34 per ADS.
The Beijing company provides internet content and application delivery services in China.
| Issuer: | ChinaCache International Holdings Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | $55 million
|
| Shares: | 53,855,569
|
| Price: | $1.02125
|
| Warrants: | No
|
| Pricing date: | March 3
|
| Stock symbol: | Nasdaq: CCIH
|
| Stock price: | $21.10 at close Feb. 28
|
| Market capitalization: | $565.93 million
|
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