Csquare (CSQR), a data center operator backed by Brookfield (BN), launched an initial public offering of 50 million common shares for proceeds of up to $1.55 billion.

The shares will be priced from $23 to $27 each to raise $1.15 billion to $1.35 billion, or up to $1.55 billion if underwriters exercise their 30-day option in full to purchase an additional 7.5 million shares, Csquare said Monday in a statement.

A portion of the net proceeds will be used to repay debt, with the remainder for general corporate purposes.

The shares are expected to trade on the New York Stock Exchange under the ticker CSQR.

Brookfield shares rose 1.3% in Monday trading.