(Bloomberg) — Yovole is considering an initial public offering in the US, people familiar with the matter said, years after the Chinese data center operator’s failed attempt to list in mainland China.
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The company, which is backed by Beijing-based alternative asset manager CDH Investments, is working with an adviser on a potential first-time share sale that may help it raise more than $100 million, the people said, asking not to be identified discussing a private matter. Yovole may consider submitting a confidential filing with US regulators as soon as in January, the people said.
Deliberations are ongoing and details such as the size and timing of an IPO could change, the people said.
A representative for Yovole didn’t respond to requests seeking comment.
Founded in 2001, Yovole, or “You Fu” in Chinese, provides cloud computing data center services in China, operating in major cities including Beijing, Shanghai, Guangzhou and Shenzhen, according to its website.
The company has counted big technology firms and financial institutions including Alibaba Group Holding Ltd., Tencent Holdings Ltd. and China UnionPay Co. as clients, according to a filing in 2020 when Yovole was attempting an IPO in China.
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