Thursday, 17 December 2015 01:00

NEXTDC completes $120m capital raising


Data-Centre-as-a-Service (DCaaS) provider NextDC has announced the successful completion of the retail component of its Entitlement Offer.

NextDC has announced the successful completion of ‘the retail component of the Entitlement Offer launched in late November, under which eligible retail shareholders were able to apply for additional new shares, and raised approximately $30 million.’

The previously completed institutional component of the Entitlement Offer was oversubscribed and raised approximately $40 million, while the institutional placement raised $50 million from existing and new investors.

More below, please read on.

Announcing on 26 November the development of two new data centres in Brisbane and Melbourne, NEXTDC Chief Executive Officer, Craig Scroggie commented that the fully underwritten $120m capital raising – together with NEXTDC's recent Notes II offer which raised $100m, plus $52.9m in cash and $50m in undrawn senior debt – means NEXTDC has more than $320m available to fund accelerated growth and deliver significant new capacity to the Australian data centre market.

More information is available at NextDC’s ASX announcement PDF.

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Alex Zaharov-Reutt

Alex Zaharov-Reutt is iTWire's Technology Editor is one of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

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