Brookfield-backed Csquare trades lower in New York debut after $1.05 billion IPO

Brookfield

16/07/2026 18:12

Updates
** Brookfield-backed data center firm Csquare's CSQR.N shares fall in New York debut after $1.05 billion U.S. IPO 
** Stock opened at $20.90 apiece vs $21 IPO price; last down 2.2% at $20.54
** CSQR sold 50 million shares in IPO at $21 apiece, below marketed range of $23 to $27
** Brookfield BN.TO formed Csquare, formerly Centersquare, in 2024 by combining Evoque and Cyxtera
** CSQR operates data centers located in 21 major metropolitan markets across the U.S., Canada and the UK
** It competes against Equinix EQIX.O, DataBank, CoreSite, Digital Realty Trust DLR.N, CyrusOne, Switch, TierPoint, Flexential and Cologix
** Some analysts said the firm is extremely leveraged; CSQR's total long-term debt, net of current, stood at $4.8 billion as of March 31
** Certain entities managed by Brookfield Wealth Solutions BNT.N agreed to purchase 3 million CSQR shares from offering
** Overall, entities managed by Brookfield Wealth Solutions and investors introduced to underwriters by Brookfield agreed to buy $250 million of shares from offering
 

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))