CyrusOne raises $313.5M in IPO, shares price high

Associated Press

NEW YORK (AP) -- CyrusOne Inc., which operates telecom Cincinnati Bell Inc.'s data center business, has raised $313.5 million in an initial public offering of stock.

The company said late Thursday that it priced 16.5 million shares at $19 each, above its expected range of $16 to $18. That suggests healthy demand for the company's shares from investors.

The banks managing the deal may buy another 2.5 million shares at the IPO price, adding to the total amount raised.

CyrusOne, which is based in Carrollton, Texas, expects that its shares will start trading Friday on the Nasdaq Global Select Market under the symbol "CONE."