InterXion recently filed plans with US regulators for a stock market listing on the NYSE, and its IPO is scheduled for Friday, January 28.
One of Europe’s largest data center providers, InterXion competes mainly with Equinix Europe and TeleCityGroup and smaller local providers. These three major European players offer a slightly different coverage of the European region, but all have data centers in the most important Telecom hubs in UK, Germany, France and Netherlands.
Interxion will be offering a total of 18.55 million shares, partially sold by existing shareholders (2.3 million shares – these shareholders also granted underwriters the option to buy up to an additional 2.78 million shares). There will be about 65 million shares outstanding after the IPO.
InterXion's market cap after the offering, using the mid range of $12, should be around $ 800 million.
The net proceeds from the sale of new shares will most probably be used to build new data centers and extend existing ones.
Unsurprisingly, the financial sector is one of InterXion's main growth drivers, and the Company has several trading and financial firms as customers, including NYSE Euronext, Nasdaq OMX, Bolsas y Mercados Espagnoles.
Here is a quick look at the company’s presentation of its low latency services:
InterXion is a nice growth story in what is expected to remain a strong market for the next few years, according to industry forecasts by IDC and Tier 1 Research, quoted in the IPO filing.
It should anyway be noted that colocation is a bit more commoditized in Europe, compared to the US situation.
For more information about the IPO, you can also read a more detailed presentation of the public offering on Seeking Alpha.