Csquare IPO Priced at $21, Below $23-$27 Range, Raising $1B+
Tom Rudovsky · Reported by Dow Jones Newswires
More coverage: Technology
Sentiment
Negative
Importance
8
Price
0
Mkt Cap
0
52W Low
0
52W High
0
52W Position
Off High
Rel. Volume
Market data snapshot near publication time
Summary
Csquare's IPO priced at $21 per share, well below the $23-$27 expected range, raising over $1 billion via 50 million shares. The pricing implies a market cap of about $3.25 billion, down from the roughly $3.5-$4.2 billion implied by the initial range. This follows the July 6 announcement of IPO terms and signals weaker-than-expected demand for the data-center company backed by Brookfield (BN). The discount may pressure early trading as shares debut today on the NYSE under CSQR.
This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.