Switch finishes adult 22% in information core IPO

Las Vegas-based information core user Switch went open on a New York Stock Exchange today, underneath a ticker “SWCH.”

After pricing a IPO above a due operation during $17, a association sealed during $20.73, adult roughly 22 percent. The association lifted $531 million in a offering.

Here’s how Switch describes itself in a filing: “We trust we are a colonize in a design, construction and operation of some of a world’s many reliable, secure, volatile and tolerable information centers. Our modernized information centers are a core of a height and yield appetite densities that surpass attention averages with fit cooling, while being powered by 100% renewable energy.”

Switch has some-more than 800 business and considers eBay a largest.

The association brought in $318 million in income final year, compared to $266 million a year before. Profits went down from $73 million in 2015 to $31 million in 2016. The initial half of this year saw $35 million in profit, prosaic with a same duration in 2016.

Intel Capital was a largest try backer, that owned 5.3 percent before to a IPO. Switch lifted an undisclosed volume of appropriation given it was shaped in 2000.

Goldman Sachs, J.P. Morgan, BMO Capital Markets and Wells Fargo Securities were a bankers underwriting a IPO. Latham Watkins and Goodwin Procter served as counsel.

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Posted by on Oct 7 2017. Filed under NEWS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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