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Benzinga
Benzinga
Business
Anusuya Lahiri

Why VNET Shares Are Surging Today

VNET American Depositary Shares Nasdaq China
  • VNET Group Inc (NASDAQ:VNET) bagged an unsolicited and preliminary all-cash buyout offer.
  • The Hina Group and Industrial Bank Co., Ltd., Shanghai Branch proposed to acquire VNET for $8.00 in cash per ADs, or $1.3333 per ordinary share.
  • VNET's Q4 FY21 revenue of $273.9 million, up 29.4% year-on-year, missed the consensus of $275.9 million. EPS loss of $(0.24) missed the consensus loss of $(0.22).
  • China's leading carrier- and cloud-neutral Internet data center services provider's American depositary shares closed Friday at $5.40.
  • Price Action: VNET shares traded higher by 14.4% at $6.18 on the last check Monday.
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