(Alliance News) - Europe and Asia-Pacific-focused cloud data centre developer Global Switch Holdings Ltd said Friday it expects a possible initial public offering to take place in 2020, depending on market conditions.
This follows a review of the impact of the present political and economic environment on the current equity capital markets by Global Switch's board and joint global co-ordinator banks for the IPO.
Global Switch did not specify exactly on which stock exchange it would float on, just a "leading international" stock exchange.
In addition, Chinese steelmaker Jiangsu Shagang Group Co Ltd has acquired a 24% stake in the business.
This follows the acquisition of a 25% stake in July 2018 by a consortium of six Asian investors known as Strategic IDC consortium.