This article is from the Australian Property Journal archive
NEW and existing shareholders have flocked to data centre operator NextDC’s $550 million institutional raising, quickly completed amid surging demand for artificial intelligence.
NextDC on Tuesday announced the capital raising to further its expansion into Asia, including new data centre development sites.
The capital raising comprised a fully underwritten $550 million institutional placement non-underwritten share purchase plan of up to $200 million.
“The strong support for this placement highlights continued investor confidence in NextDC’s growth strategy and long-term vision. As AI continues to drive unprecedented demand for accelerated computing, the need for scalable, high-performance digital infrastructure has never been more vital,” said NextDC CEO and managing director Craig Scroggie.
“This successful placement ensures that NextDC is well-positioned to meet the growing needs of the cloud and AI ecosystems, while seizing new opportunities in a rapidly evolving market.”
NextDC launched a $1.32 billion raising to develop and boost facilities in Sydney and Melbourne in April.
CBRE’s annual Global Data Centre Investor Survey found that 97% of investors are planning to increase their investment into data centres this year, with 92% to allocated more than US$100 million into data centres and 44% planning to allocate more than US$500 million into the sector.