Csquare Raises $1.05B in IPO, Prices Shares at $21 Below Marketed Range

According to Cailianshe, Csquare, a US-based data center operator founded in 2019, raised US$1.05 billion in its initial public offering by selling 50 million shares at US$21 per share. The offering priced below the marketed range of US$23 to US$27, valuing the company at approximately US$3.25 billion.

The company will trade on the New York Stock Exchange under ticker CSQR, with Morgan Stanley and Toronto-Dominion Bank as lead underwriters. Brookfield, through affiliated entities, will retain about 67% of Csquare's voting control post-IPO. Csquare plans to use proceeds primarily for debt repayment. The listing reflects continued investor appetite for AI-related infrastructure companies.