GDS Holdings announces $150m equity investment by Ping An Overseas Holdings

GDS Holdings has announced a $150 million equity investment by China Ping An Insurance Overseas, a subsidiary of Ping An Insurance Co.

The investment will be in the form of convertible preferred shares. GDS will use the proceeds from the investment to fund expansion of its data center capacity and for general corporate purposes.

“We are delighted to strengthen our strategic relationship with Ping An through this investment,” said William Huang, chairman and CEO of GDS Holdings. “We very much appreciate Ping An’s support as an investor in GDS and are honored to count them as one of our top customers. We see great potential to work with Ping An in growing its market-leading technology platforms and ecosystems in key verticals such as fintech, healthcare, auto-services, real estate, and smart cities. Ping An is among the largest and most admired companies in China. We are proud of the trusted relationship we have built with them and are excited to work more closel