April 24 (Reuters) – Data center provider Csquare said on Friday it has confidentially filed for an initial public offering in the United States, banking on improving investor appetite for new listings.
The IPO market has picked up pace in recent days, with waning fears of a drawn-out Middle East conflict boosting investor confidence and encouraging companies to pursue listings.
Fashion retailer Tailored Brands and sandwich chain Jersey Mike’s have also confidentially filed for an IPO earlier this month.
Dallas-based Csquare provides space, power and connectivity solutions for enterprise and hyperscale customers. It operates more than 80 data centers across 30 markets in North America and Europe, according to its website.
The company also has strategic relationships with technology service distributors, including Bridgepoint, Intelisys, Telarus, Avant and Sandler Partners.
Csquare said it plans to use part of the IPO proceeds to repay debt and the rest for general corporate purposes.
The number of shares to be offered and the proposed price range have not yet been determined.
Confidential filings with the U.S. securities regulator allow companies to prepare for IPOs away from public market scrutiny.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shilpi Majumdar)
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