21Vianet IPO: Is a 70 Times Adjusted EBITDA Multiple Justified?

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>>21Vianet (VNET) is the largest carrier-neutral Internet data center services provider in China. It is a Chinese equivalent of US-based Equinix (EQIX).

The company completed its IPO last week, raising $195 million, more than expected in its original filing, as the company succeeded in selling its shares at $15, $2 above the high end of the proposed range.