Update on Jiangsu Shagang Reorganisation

Update on Jiangsu Shagang Reorganisation

Release date: 07.07.2021

LONDON – 7 July 2021 - Global Switch (“Global Switch” or “the Company”), the leading owner, operator and developer of large-scale network dense, carrier and cloud neutral multi-tenanted data centres in Europe and Asia-Pacific, notes today’s announcement by Jiangsu Shagang Co., Ltd (“Jiangsu Shagang”) relating to its planned shareholder reorganisation, known as a Material Asset Restructuring (“MAR”).

Jiangsu Shagang (002075.SZ) uploaded an announcement to the Shenzhen Stock Exchange’s website on 7 July 2021 confirming that at the meeting of the China Securities Regulatory Commission’s 16th M&A and Restructuring and Auditing Committee (the “Committee”), the MAR was not approved. The announcement can be viewed here.

Jiangsu Shagang has not received the official document from the Committee regarding its review of the MAR and will make any further announcements and relevant disclosures in due course. The trading of Jiangsu Shagang shares will resume on 8 July 2021.

This development has no impact on Global Switch’s financial performance, or operations and the Company has continued to perform well since the publication of its full year results in April 2021. Any further announcements will be made as and when appropriate.


Jenny Davey
Finsbury Glover Hering
+44 20 7251 3801

Ali Ballantine
Brand and Communications Director
Global Switch
Tel: +44 20 8054 9053


About Global Switch
Global Switch is the leading owner, operator and developer of large-scale, carrier and cloud neutral, multi-customer data centres in Europe and Asia-Pacific. Founded in 1998, Global Switch has a proven business model, demonstrable track record and is one of the highest credit rated data centre companies in the world with investment grade credit ratings from Fitch Ratings, Moody’s and S&P Global Ratings.

Global Switch is a vital strategic partner for customers that require secure and resilient data centre services with scalable capacity and a high-level of customer service. The Company's focus is on highly resilient, central, low latency, network dense locations in prime city centre locations and internet hubs close to its customers on the edge of financial and business districts. Global Switch’s data centres operate exclusively in the Tier I markets of Europe and Asia-Pacific to Tier III or higher and currently total around 428,000 sq m (4,600,000 sq ft) of floor space and are occupied by a broad range of customers, global and national, large and small including government organisations, financial institutions, enterprises, global systems integrators, telecommunication carriers, cloud and managed service providers and other hosting businesses.

For more information visit: www.globalswitch.com.