Cincinnati Bell unit CyrusOne sees IPO priced at $16-$18/shr

Tue Jan 8, 2013 8:11am EST

Jan 8 (Reuters) - CyrusOne Inc, owned by telecom services company Cincinnati Bell Inc, said it expects its initial public offering of 16.5 million shares to be priced between $16 and $18 each.

CyrusOne now expects the IPO, including the underwriters option, to raise upto $341.6 million. ()

The data center operator had initially filed with the U.S. Securities and Exchange Commission to raise up to $300 million and said it intends to structure itself as a real estate investment trust.

CyrusOne, which contributes close to 15 percent of Cincinnati Bell's total revenue, has applied to list its common stock on the Nasdaq under the symbol "CONE."

Upon completion of the offering, Cincinnati Bell will own about 71.6 percent of CyrusOne.

Morgan Stanley and BofA Merrill Lynch are acting as joint-bookrunners for the offering.