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Switch IPO: 13 Things for Potential Investors to Know

Switch raised $531.3 million with its IPO

   

Switch, Inc. (NYSE:SWCH), a data management company that develops and operates data centers, has completed its recent IPO.

Switch IPO: 13 Things for Potential Investors to Know
Source: Shutterstock

Here are a few things that potential investors may want to know about the Switch IPO.

  • The company’s IPO priced its shares at $17 each.
  • This is more than the $14 to $16 range that was expected.
  • The total amount of funds that was raised in the IPO was $531.3 million.
  • This offering included 31.3 million Class A shares.
  • The total market value for the Switch IPO could be as high as $4.2 billion.
  • It is planning to use the funds from the IPO to buyout investors of Switch Ltd.
  • Once it has done this, it will take over as a holding company.
  • Some underwriters for the IPO include BMO Capital Markets, Goldman Sachs & Co, J.P.Morgan and Wells Fargo Securities.
  • The IPO is the third largest one for a tech company in the U.S. in 2017.
  • The two other tech IPOs that were above Switch’s this year were for Snap Inc (NYSE:SNAP) and Altice USA Inc (NYSE:ATUS).
  • During 2016, the data management company reported net income of $31.4 million on revenue of $318.4 million.
  • Its net income for the first six months of 2017 is $35.3 million.
  • Switch is supposed to start trading on the New York Stock Exchange today under the SWCH stock ticker.

You can follow these links to learn more about the Switch IPO and what the company is planning for the future.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/ipo-playbook/switch-ipo-swch-stock/.

©2017 InvestorPlace Media, LLC