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GDS Holdings Ltd. ( (HK:9698) ) has issued an announcement.
GDS Holdings Limited has called a general meeting of holders of its Series B convertible preferred shares to vote on proposed amendments to its articles of association, with a key change aimed at increasing the voting power of Class B ordinary shares held by founder, chairman and CEO William Wei Huang. The board is proposing to raise the voting rights of each Class B share from 20 to 50 votes for the election of a majority of directors and for certain amendments, so that Chinese shareholders’ voting power for board control will exceed 50%, a move designed to solidify Chinese national control in response to regulatory expectations and customer demands that key data center service providers be controlled by Chinese nationals or entities for sensitive business segments.
The most recent analyst rating on (HK:9698) stock is a Buy with a HK$49.00 price target. To see the full list of analyst forecasts on GDS Holdings Ltd. stock, see the HK:9698 Stock Forecast page.
More about GDS Holdings Ltd.
GDS Holdings Limited, incorporated in the Cayman Islands and listed in both Hong Kong and on Nasdaq, operates data centers serving a wide range of institutional customers in mainland China, including major financial institutions and internet platform companies. Its business is closely intertwined with stringent and evolving regulatory requirements around data security, cybersecurity, and personal information protection, which shape how it structures ownership and control to meet client and regulatory expectations.
Average Trading Volume: 5,416,253
Technical Sentiment Signal: Buy
Current Market Cap: HK$70.33B
See more data about 9698 stock on TipRanks’ Stock Analysis page.