NextDC Raises AUD 550 Million for Further Asian Expansion

Australian data center provider NextDC announced that it has successfully raised approximately AUD 550 million through the issuance of approximately 32.1 million new shares. Further to the company’s ASX announcement dated September 10, 2024, the placement shares were issued at AUD 17.15 per share, representing a 3.9 percent discount to Tuesday’s close.

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Also Read: NextDC Launches 5 MW Data Center in Adelaide, Australia

Proceeds for Asian Data Center Expansion

The proceeds from the capital raising will be used for acquiring new data center development sites in Asia, as well as for general corporate purposes and transaction costs. The newly acquired Asian sites are expected to expand the company’s data center development pipeline in Asia, which in due course will also add to NextDC’s planned capacity of over 1GW based on its existing portfolio of data centre sites, the exchange filing said.

“NextDC continues to see opportunities in the growing cloud and AI-led demand for digital infrastructure throughout its core Asian markets, which it believes creates strong tailwinds for NextDC,” the company said.

Also Read: EcoDataCenter Acquires Site in Borlange, Sweden, for 240MW Campus

Investments and Future Developments

Additionally, NextDC said it is actively evaluating and planning its expansion into new markets, including site evaluation and negotiation in Bangkok, Thailand (BK1) and Johor, Malaysia (JB1).

In FY24, NextDC received foreign investment approval from Thailand’s Board of Investment (BOI) to build a new hyperscale facility in Bangkok. Part of the capital raised will be used to develop this facility once a suitable site has been acquired.