:Chindata Group said on Wednesday that investor Bain Capital has offered to take the Chinese data center operator private in a deal valuing the company at $2.93 billion.
Chindata's shares, which have lost more than a fifth of their value this year, rose about 16 per cent to $7.29 in trading before the bell. Bain Capital's proposal values each American depositary share of Chindata at $8, representing a premium of more than 27 per cent to its last closing price.Data centers and cloud services have seen increased demand due to the widespread adoption of AI technologies.Chindata's services include designing and operating data centers in China, India and Southeast Asia.
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