European colocation provider Interxion Holdings plans to sell 18.6 million shares of stock in its initial public offering, which is scheduled for Friday on the New York Stock Exchange. Interxion, which will trade under the symbol INXN, said it expects the IPO to price at between $11 and $13 a share. At the midpoint of $12, the offering would generate proceeds of about $223 million.
The proceeds of the IPO would be split between Interxion, which is selling about 16.3 million shares, and selling stockholders who are selling 2.3 million shares. The selling stockholders are giving the underwriters an option to buy up to an additional 2.8 million shares to cover excess demand. These shares will represent about 28.5 percent of the total shares outstanding, which will about 65 million after the IPO.
For additional insight and analysis on the Interxion IPO, see this series of articles by Paolo Gorgo at Seeking Alpha:
- Interxion IPO: Colocation, the European Way
- Inside Interxion's IPO Part 1: Offering, Competitive Landscape
- Inside Interxion's IPO Part 2: Financial Data, Shareholder Info
The company will use its share of the funds to the proceeds mostly for general corporate purposes, including building new data centers. Interxion announced its intention to go public last May, when it filed preliminary non-public paperwork with the U.S. Securities and Exchange Commission.
28 Data Centers in 11 Countries
Interxion is based in Amsterdam and operates 28 carrier-neutral data centers in 13 cities and 11 European countries. The company offers colocation, wholesale data center services and managed hosting, giving customers a broad set of choices. Its competitors include Telecity and Equinix (IXEurope) on the colocation front and Digital Realty Trust, Global Switch and e-Shelter in the wholesale space.