Global Switch (“Global Switch”), the leading owner, operator and developer of large scale network dense, carrier and cloud neutral multi-tenanted data centres in Europe and Asia-Pacific, announces that it is continuing preparation for a public listing on a leading international stock exchange, following the acquisition of a further 24.01% stake in the business by Jiangsu Shagang Group Co., Ltd (“Shagang Group”), the largest privately owned steel maker in China and a member of the Fortune Global 500 list of the world’s biggest companies.
The timing of the IPO will depend on market conditions. The Board and IPO Joint Global Co-ordinator banks have reviewed the impact of the present political and economic environment on the current equity capital markets conditions and the current expectation is that the IPO will now proceed during the course of 2020. While Global Switch will continue to monitor the markets closely, the Board’s intention remains to proceed with an IPO at the earliest opportunity.
Following the announcement on August 27, 2019, Global Switch also confirms that the company remains on track to complete the next phase of its data centre development in Hong Kong later this year and will be launching the new data centre in Frankfurt in November.
Notes to editors:
About Global Switch
Global Switch is the number one large-scale carrier neutral data centre provider in the top ten markets in Europe and Asia Pacific. We own and operate 12 fully fitted world class data centres in super prime locations within eight markets across Europe and Asia Pacific, offering a total of 365,000 sqm of state of the art technical space with further developments underway.
Founded in 1998, Global Switch has a proven business model, demonstrable track record and is the highest credit rated data centre company in the world with investment grade credit ratings from Fitch, Moody's and Standard & Poor's.
Global Switch is a vital and strategic partner for customers that require secure and resilient data centre services with scalable capacity and a high level customer service. The Company's focus is on highly resilient, central, low latency, network dense locations in prime city centre locations and internet hubs close to its customers on the edge of financial and business districts.
Global Switch's data centres operate exclusively in the Tier I markets of Europe and Asia-Pacific to Tier III or higher and are occupied by a broad range of customers, global and national, large and small, including government organisations, financial institutions, enterprises, global systems integrators, telecommunication carriers, cloud and managed service providers and other hosting businesses.
Unlike some data centre providers (such as systems integrators and managed service providers that also offer IT and cloud services), Global Switch is a leading owner, operator and developer of large scale network dense, carrier and cloud neutral multi-tenanted data centres. It has no access to any customer data. It does not provide any IT services to its customers, rather it develops and operates high quality, technical digital infrastructure with the access to the power, cooling and physical security required by IT services providers. It then contracts space and power to its customers who fit out their own secure cages with their own servers. These cannot be accessed by Global Switch or its investors.
For more information visit: www.globalswitch.com.