Australian data centre operator NEXTDC said on Tuesday it was looking to raise a total of A$750 million ($500.33 million) to expand its data centre pipeline in Asia, tapping further into the global artificial intelligence frenzy.
“NEXTDC continues to see opportunity 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 firm said in a statement.
NEXTDC said the capital raising will be done through a placement of A$550 million and a share purchase plan capped at A$200 million, with the placement priced at A$17.15 per share.
The price represents a discount of 3.9% to Tuesday’s close.
Countries and companies are showing growing interest and demand for data centres across the Asia Pacific as the AI boom fuels demand for digital infrastructure.
In a similar move earlier this month, Blackstone announced its largest investment in the Asia-Pacific region in an A$24 billion deal to buy Australian data centre group AirTrunk.
The data centre operator also revised upwards its capital expenditure guidance for fiscal 2025 to a range of A$1.3 billion to A$1.5 billion on Tuesday, from the previous forecast of A$900 million to A$1.1 billion.
Reuters
