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<Research>Jefferies Trims GDS Holdings TP to USD37.32 on Shr Dilution
Recommend 10 Positive 15 Negative 8 |
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According to a Jefferies report, GDS-SW (09698.HK) (GDS.US) plans to issue USD500 million convertible bonds with a term of seven years and 5.2 million new ADSs, with an aim to refinance its USD620 million convertible bonds maturing in March 2027. In the broker's estimates, it would result in a 5% dilution of shares. Corresponding to the share dilution, Jefferies adjusted downward its target price for GDS Holdings' US shares from USD47.76 to USD37.32, with a Buy rating. AAStocks Financial News |
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