By Dean SealVNET Group's American depositary receipts fell after the company reported third-quarter results and a $299 million strategic investment. The stock was down 15% at $3 in early trading. Shares have fallen 47% since the start of the year. After the bell Wednesday, the Chinese internet data center services provider posted a loss of 50.5 million Chinese yuan ($6.9 billion), or RMB0.06 (one cent), compared with a loss of RMB425.2 million in the year-ago quarter. The company said before the market opened Thursday that two groups, Success Flow International Investment Ltd. and Choice Faith Group Holdings Ltd., have agreed to invest $299 million into VNET.

Source: Wall Street Journal November 16, 2023 17:51 UTC