Brookfield-backed Csquare prices IPO at $21 per share, Bloomberg News reports
FILE PHOTO: A U.S. flag hangs on the front of the New York Stock Exchange before the day’s trading starts in New York, U.S., March 16, 2020. REUTERS/Lucas Jackson/File Photo
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July 15 : Data center provider Csquare priced its initial public offering at $21 per share, Bloomberg News reported on Wednesday, citing sources.
Brookfield the Dallas-based company’s backer, is considering buying a portion of the offering, the report added.
Reuters could not immediately verify the report.
Csquare and Brookfield could not immediately be reached for comment outside regular business hours.
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A rebound in IPO activity has boosted market sentiment, prompting companies to accelerate listings while the market window remains open despite geopolitical uncertainty.
Growing demand for AI computing infrastructure has boosted investor interest in data center operators, which are expanding capacity to meet demand for AI workloads.
Founded in 2019, Csquare owns and operates 64 data center sites across 21 metropolitan markets in North America and the UK, providing co-location and connectivity services to enterprises, cloud providers and telecommunications companies, according to its IPO filing.
The company said it plans to use most of the IPO proceeds to repay debt, with the remainder allocated for general corporate purposes, including acquisitions, working capital and capital expenditures.
Source: Reuters
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