VNET Shares Rise on Deal to Sell Shares to New Investors

Dow Jones05-13

By Katherine Hamilton

VNET shares rose after the company said it had new strategic investors.

The stock climbed 18% to $10.65 in premarket trading Wednesday. Through Tuesday's close, shares were up 7% this year.

The China-based data center services provider said two subsidiaries of PJ Millennium have agreed to buy 650.4 million shares.

The buyers plan to pay $1.45 a share. They will purchase the shares from shareholders Success Flow International Investment and Choice Faith Group.

The deal is subject to approval by shareholders of the sellers' owner, Shandong Hi-Speed Holdings. It is slated to close in the fourth quarter of 2026.

Following the deal, the buyers will hold roughly 38% of VNET's total stock.

VNET also entered into a deed with the buyers to provide certain representations, warranties and undertakings in connection with the investment. The buyers are also set to be granted certain investor rights.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

May 13, 2026 09:08 ET (13:08 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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They will purchase the shares from shareholders Success Flow International Investment and Choice Faith Group. \n\n\n  The deal is subject to approval by shareholders of the sellers' owner, Shandong Hi-Speed Holdings. It is slated to close in the fourth quarter of 2026. \n\n\n  Following the deal, the buyers will hold roughly 38% of VNET's total stock. \n\n\n  VNET also entered into a deed with the buyers to provide certain representations, warranties and undertakings in connection with the investment. The buyers are also set to be granted certain investor rights. \n\n\n \n\n\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 13, 2026 09:08 ET (13:08 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2635870027","isCrawlerRequest":true}