Csquare has announced plans to raise between $1.15 billion and $1.35 billion through an initial public offering of 50 million common shares, priced between $23 and $27 each.

Underwriters have the option to purchase an additional 7.5 million shares, which could increase total gross proceeds to as much as $1.55 billion.

The company expects its shares to begin trading on the New York Stock Exchange under the ticker CSQR. Net proceeds will be used primarily to repay outstanding debt, cover offering expenses and support general corporate purposes.

Morgan Stanley and TD Securities are leading the offering, supported by a broad syndicate of book-running managers and co-managers.