Global Switch

Global Switch: Asian investor consortium acquires 24.99% stake in Global Switch in preparation for listing on a leading international stock exchange
started by admin on Jul 11, 2018
posted in Global Switch discussions

A consortium of six Asian institutional and private investors has acquired a 24.99% stake in the Company in a transaction valued at £2.1 billion

The investment by Strategic IDC Limited further diversifies Global Switch’s sources of equity capital, supports a continuation of the Company’s strategic expansion plans in preparation for a public listing in 2019, subject to market conditions, on a leading international stock exchange in Europe, Asia or North America

The transaction follows significant strategic momentum for Global Switch since the December 2016 investment by Elegant Jubilee Limited, a consortium of institutional and private investors from Asia. This includes the launch in December 2017 of Stage 1 of a new state of the art HK$5 billion data centre in Hong Kong and significant progress with the construction of Singapore Woodlands, Global Switch’s second data centre in that location which is due to be completed later this year

There will be no change to the strategic direction, management or financial and operational policies of Global Switch as a result of this transaction

From a customer perspective, all existing contacts, including all our management teams, will remain the same. Global Switch will continue to provide highly resilient and secure data centre services

Aldersgate Investments Limited (a Reuben Brothers company) will continue to jointly control the company together with Elegant Jubilee Limited and Strategic IDC Limited under the governance of the existing Shareholders’ Agreement.

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