Data center company Csquare has set the price for its initial public offering at $21 per share, Bloomberg News reported Wednesday, citing sources familiar with the matter.
Brookfield, which backs the Dallas-based company, is reportedly considering purchasing a portion of the shares being offered, according to the Bloomberg report. Reuters, which first reported on the Bloomberg story, was unable to independently confirm the information, and neither Csquare nor Brookfield could be reached for comment outside of normal business hours.
The IPO comes amid a broader resurgence in public market listings. Companies have been moving to take advantage of favorable market conditions and launch their offerings while investor appetite remains strong, even as global uncertainties persist.
Investor enthusiasm for data center operators has grown significantly in recent months, driven by surging demand for artificial intelligence computing infrastructure. Companies in this space are rapidly expanding their capacity to handle the increasing workloads tied to AI applications.
Csquare was founded in 2019 and currently owns and operates 64 data center locations spread across 21 metropolitan markets throughout North America and the United Kingdom. The company provides co-location and connectivity services to a range of clients, including enterprises, cloud service providers, and telecommunications firms, according to its IPO filing.
The company has stated that the majority of the money raised through the IPO will go toward paying down existing debt. Any remaining funds are earmarked for general business purposes, which may include acquisitions, working capital, and capital expenditures.
