HK Stock Market Move | GDS-SW(09698) rises more than 7% again, Southern World Data Center REIT terminates public investor fundraising early.

GDS-SW (09698) rose over 7% again, as of the time of writing, it is up 6.53% to 36.7 Hong Kong dollars, with a trading volume of 1.17 billion Hong Kong dollars. On the news front, on July 14th, Southern Worldwide Data Center closed-end infrastructure securities investment fund issued an announcement, announcing the early termination of public investor sales and the proportionate distribution. It was reported earlier that Southern Worldwide Data Center REIT had completed the offline inquiry, with a subscription multiple of up to 166 times, priced at 3.00 yuan per share, with a total issue size of 800 million shares, and the total amount of funds to be received by C-REIT is 2.4 billion yuan. Industrial pointed out that the valuation of Worldwide Data Center REIT significantly exceeds market expectations, and the valuation anchor of the IDC industry has been greatly raised. The REITs project can recover a large amount of cash at one time for investment in new IDC projects. Current policies encourage public REITs to be issued, benefiting IDC companies with more mature existing projects to accelerate their expansion. HSBC stated that the spin-off is beneficial for the company to deleverage, maintaining a net debt to adjusted EBITDA ratio below 6.5 times within the year, and a pricing multiple of adjusted enterprise value higher than the current 14 times of the stock, reflecting the company's potential for value revaluation.