Data centre operator Telecity has priced its initial public offering of shares on the London Stock Exchange. The company is selling 43.8 million shares at 220 pence each, including 34.1 million new shares and 9.7 million held by existing shareholders. The gross proceeds will be GBP 96.3 million, of which GBP 75 million will go to the company. This gives Telecity a total market capitalisation of GBP 436 million. Trading in the shares wil start on 24 October under the symbol TCY.

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