NEXTDC, an Australian data centre operator has announced it hopes to raise a total of A$750m ($500.33m) to expand its data centre pipeline in Asia.
The company is looking to exploit the global AI boom by providing extra computational power with a new data centre.
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In a statement this week, the company said: “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.”
Headquartered in Brisbane, Queensland, NEXTDC is the largest listed developer and operator of data centres in Australia, operating 13 centres including Melbourne, Sydney, Brisbane, Perth and Canberra.
The capital raising will be done through a placement of A$550m and a share purchase plan capped at A$200m, with the placement priced at A$17.15 per share, according to the company.
This price represents a discount of 3.9% to the market close on Tuesday (10 September).
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By GlobalDataWith an increased interest in AI across the world, data centres are in high demand across Asia Pacific as more complicated algorithms require higher levels of energy.
The data centre operator also revised upwards its capital expenditure guidance for fiscal 2025 to a range of A$1.3bn to A$1.5bn, from the previous forecast of A$900m to A$1.1bn.
Blackstone, the world’s largest alternative asset manager, announced recently its plans to acquire Australian data centre group AirTrunk, with the deal in the region of A$24bn.
AirTrunk is the largest data centre platform in the Asia Pacific region, with a sizeable presence in Australia, Japan, Malaysia, Hong Kong, and Singapore.
It has more than 800MW of capacity committed to customers and owns land that can support over 1GW of future growth across the region.
Both announcements highlight large investment initiatives for the Asia-Pacific region.
