On March 26, 2024, GDS Holdings Limited (GDSH), a leading developer and operator of high-performance data centers in China and South East Asia, announced that its wholly-owned subsidiary, DigitalLand Holdings Limited, or GDS International, that acts as the holding company for GDSH’s international data center assets and operations, has entered into definitive agreements for certain private equity investors, including Boyu Capital, to subscribe for US$587 million of Series A convertible preferred shares newly issued by GDS International. Wilson Sonsini Goodrich & Rosati represented Boyu Capital in connection with the transaction.

GDS International was established in 2022 with its corporate headquarters in Singapore. Its portfolio currently comprises 330 MW of data center capacity in service and under construction and a further 340 MW held for future development across strategic locations in, among others, Hong Kong, Singapore, Malaysia (Johor), and Indonesia (Batam). GDS International has secured commitments and reservations from global and China customers for over 200 MW of capacity, of which over 70 MW is already revenue-generating.

The Wilson Sonsini team that advised Boyu Capital in connection to the transaction was led by Weiheng Chen and included Xuchao Dong and Athena Yu.

For more information, please see GDSH’s press release.