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Stock Alert: 21Vianetat New High On News Of Investment

Shares of 21Vianet Group, Inc. (VNET), a leading carrier- and cloud-neutral Internet data center services provider in China, are rising more than 12% Monday morning after the company said, funds managed by Blackstone (BX), one of the world's leading investment firms, have agreed to invest $150 million in the company. The stock touched a new high of $22 today and currently trading lower at $20.67.

The investors are to subscribe $150 million newly issued Series A perpetual preferred shares. 21Vianet intends to use the proceeds to reinforce its position in China's hyper-growth data center market.

"This investment is a valuable vote of confidence in the strategy being pursued by our team. Blackstone's experience, connections, and knowledge of the data center sector globally will help us embrace new infrastructure and digital transformation opportunities to better serve our customers," said Josh Chen, Founder and Executive Chairman, 21Vianet.

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