Chinese data center operator ZData is reportedly considering going public on the Hong Kong Stock Exchange in an IPO that could value the business at up to $5 billion.
The company has held talks with potential advisors about a public offering, according to a report from Bloomberg, which cites people familiar with ZData’s plans.
Discussions are apparently at an early stage, with no final decision made about whether to pursue an IPO, Bloomberg said.
Founded in 2014, ZData says it is aiming to develop 30 data centers across China – including Beijing, Zhangjiakou, Langfang, Tianjin, Ulanqab, Datong Yanggao, Shaoguan, and Shaoyang. It claims to have 1GW in operation or development and 3GW planned.
In August, the company broke ground on a project in Ulanqab, Inner Mongolia, and its website lists planned facilities in Singapore, and Indonesia, but does provide details of precise locations of planned capacity.
Details of the company’s plans for another market, Malaysia, emerged last month when it was announced it had purchased 38 acres of land in Gelang Patah, Johor Bahru.
A ZData subsidiary, Computility Technology (Malaysia) Sdn Bhd, paid RM 240 million ($55.9m) for the land, which was previously owned by real estate firm Tropicana Corporation.
ZData said it aims to develop a data center on the Johor site, but has not made timelines for the project public.
DCD has contacted ZData for comment on its IPO plans.
