European IT infrastructure provider Interxion has boosted the size of its initial public offering, and its stock will debut at $13 a share, at the top of the previously-announced range, the company said Thursday night. Both developments suggest strong demand for shares of Interxion, which will begin trading this morning on the New York Stock Exchange under the symbol INXN.
Interxion initially planned to sell about 18.6 million shares in its IPO, with an expected price range of $11 to $13. But the offering grew to 20.37 million shares when existing stockholders decided to sell 4.12 million shares instead of 2.3 million. The company will sell 16.25 million shares, which at $13 would net approximately $211 million. The funding will be used to
The Interxion IPO may benefit from fortuitous timing. Industry cohort Terremark (TMRK) announced late Thursday that it has agreed to be acquired by Verizon for $1.4 million, with the deal priced at a 35 percent premium to the closing price for Terremark.
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.
We'll have additional coverage of today's IPO for INXN once trading gets underway.