DuPont Fabros IPO Set For Today
DuPont Fabros Technology Inc. is scheduled to make its initial public offering today on the New York Stock Exchange. Last week the company announced that shares would be priced at between $19 and $21 a share. DuPont Fabros plans to sell 30.575 million shares in the IPO, with underwriters Lehman Brother and UBS having an option to buy another 4.5 million shares. The offering is expected to raise $610 million, with an upside potential of $736 million if the overallotment sells as well. The Washington, D.C. company has also launched a brand new web site, which includes detailed descriptions of the company’s data centers and executive bios.
The DuPont Fabros offering is shaping up as a significant indicator of investor interest in the data center sector, as it represents the first IPO by a “pure-play” data center builder since the resurgence began in the data center market. The company plans to trade on the New York Stock Exchange under the symbol DFT. Check back for updates once trading begins.