VNET Group (VNET) announced a private placement of 81M newly issued Class A ordinary shares of the company to certain institutional investors at an offering price of $1.70 per placement share, or $10.20 per ADS, each representing six Class A ordinary shares. The company expects to close the private placement on or about March 3, subject to customary closing conditions. Deutsche Bank AG, Hong Kong Branch and China International Capital Corporation Hong Kong Securities Limited are acting as placement agents for the private placement.
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