Last Week’s Top 10 Stocks Post Double-Digit Gains

2. GDS Holdings Ltd. (NASDAQ:GDS)

GDS Holdings surged by 43.4 percent last week to close at $39.14 apiece on Friday versus the $27.28 apiece a week earlier as investors took heart from news that it was mulling over publicly listing its international subsidiary DayOne on the US stock exchange.

Citing unnamed sources privy to the matter, Bloomberg reported that GDS could potentially list DayOne in a bid to raise $500 million on the stock market.

The company was said to be targeting the IPO as early as this year, and that it is already in discussions with underwriters for the issuance.

GDS was able to raise $1.2 billion for DayOne in December last year from investors including SoftBank Vision Fund and Citadel Chief Executive Officer Ken Griffin.

GDS is a Chinese data center company that operates in China and Southeast Asia. Meanwhile, DayOne holds GDS’s data center and operates outside of mainland China.