GDS private REIT approval a positive move to diversify funding, says UBS

UBS notes that GDS‘ first private REIT was approved by the Shanghai Stock Exchange with a potential issue size, or equity value, of RMB 1.609B. The firm, which believes this is a positive move to diversify funding sources and implies a potential exit via a public REIT, has a Buy rating and $28.30 price target on GDS shares.