Bain Capital values Chindata at nearly $3 billion in take-private offer

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Chindata’s shares, which have lost more than a fifth of their value this year, rose about 14% to $7.18 in early trading.

Bain Capital’s proposal values each American depositary share of Chindata at $8, representing a premium of more than 27% to its last closing price.

The private equity firm already owns a 42.2% stake in Chindata, according to Bain Capital.

Data centers and cloud services have seen increased demand due to the widespread adoption of AI technologies.

However, analysts expect enterprise customers to optimize their expenditure on cloud services.

Chindata’s services include designing and operating data centers in China, India and Southeast Asia.