GDS Global raises $4.08 mil from placement exercise; net proceeds to fund acquisitions

The group’s placement exercise drew participation from institutional investors such as Asdew Acquisitions and ICH Capital.

GDS says that the proposed acquisition of the two companies is part of its strategy to diversify its revenue base and capture new growth opportunities in the structural steel, metal works and architectural aluminium solutions business.

Shares in GDS Global closed 0.4 cents lower or 5.263% down at 7.2 cents on Dec 29.