CyrusOne Commences Initial Public Offering of Common Stock Tuesday, January 8, 3:23 PM ET
Cincinnati Bell (NYSE:CBB) announced today that CyrusOne, its wholly owned subsidiary that owns and operates Cincinnati Bell's data center business, has commenced the IPO of 16,500,000 shares of its common stock. All of the shares of common stock are being offered by CyrusOne. The estimated price range for the initial public offering is $16.00 to $18.00 per share. The underwriters will be granted an option to purchase up to 2,475,000 additional shares of common stock from CyrusOne at the initial public offering price, less underwriting discounts and commissions. CyrusOne has applied to list its common stock on the NASDAQ Global Select Market under the symbol "CONE."
Upon completion of this offering, Cincinnati Bell expects to effectively own approximately 71.6% of CyrusOne through its interests in the outstanding shares of common stock of CyrusOne and its interests in the common units of limited partnership interest of CyrusOne's operating partnership, CyrusOne LP, which are exchangable into shares of common stock of CyrusOne.
Morgan Stanley and Bank of America/Merrill Lynch are acting as joint-bookrunners for the offering.
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