BREAKING NEWS

BREAKING NEWS

UK data centre operator Global Switch picks banks for $1 billion Hong Kong IPO - sources

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By Julia Fioretti

HONG KONG (Reuters) - UK-based data centre operator Global Switch has chosen CLSA, Goldman Sachs and JPMorgan as sponsors for its Hong Kong initial public offering (IPO) of up to $1 billion (754 million pounds), two people with direct knowledge of the matter said on Friday.

Founded in 1998 and owned by Britain's billionaire Reuben brothers, Global Switch operates 11 data centres across Europe and Asia, including in Hong Kong and Singapore.

The company met banks in London in January to pick the sponsors, according to another person with knowledge of the matter.

Global Switch said in January it had "resolved to commence preparations for a public listing on a leading international stock exchange in 2019, subject to market conditions."

It did not immediately reply to a request for comment. CLSA, Goldman Sachs and JPMorgan declined to comment.

IFR, which first reported the mandating of the banks, said the listing could give the company a valuation of at least 8.4 billion pounds.

The IPO was first mooted in July last year, when a consortium of six Asian investors acquired a 24.99 percent stake in Global Switch for 2.1 billion pounds.

(Reporting by Julia Fioretti; Editing by Muralikumar Anantharaman)

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