News
MARKETS & INVESTING | Staff Reporter, Hong Kong
view(s)

UK data centre operator Global Switch mulls Hong Kong IPO

It chose CLSA, Goldman Sachs, JPMorgan Chase & Co., and Morgan Stanley to be the arrangers.

UK data centre operator Global Switch has chosen arrangers for a proposed Hong Kong initial public offering (IPO) that could raise more than US$1b, according to a report by Bloomberg.

CLSA, Goldman Sachs Inc. and JPMorgan Chase & Co. and Morgan Stanley have been chosen to work on the share sale, which could take place as soon as this year, the report said.

Global Switch is opting to list in Hong Kong after British brothers David and Simon Reuben sold control of the firm to Asian investors including Chinese steelmaker Shagang Group and China Citic Bank International. The billionaire siblings sold a 49% stake in 2016, followed by a divestment of another 25% holding in 2018.

Hong Kong has been attracting some of the world’s biggest listings, including 2018’s US$5.4b IPO from smartphone maker Xiaomi Corp., after a push from the exchange to court more technology companies. First-time share sales in the city have raised US$139.6b over the past five years, compared with US$83b in the UK during the same period, data compiled by Bloomberg showed.

Read the full report here.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.