Australia’s NextDC is looking to raise AU$550 million (US$367m) to fund its expansion across Asia.
The operator said the capital raising will be done through a placement of AU$550 million (US$367m) and a share purchase plan capped at AU$200 million (US$133.3m), with the placement priced at AU$17.15 (US$11.43) per share.
The proceeds will be used to acquire new data center development sites in Asia.
The operator received investment approval from Thailand’s Board of Investment to build a new hyperscale facility in Bangkok. Some of the capital raising will be used to develop a facility once a suitable site has been acquired.
Craig Scroggie, CEO and managing director at NextDC, said: “While the company is already well-placed from a liquidity perspective to continue to accelerate its development activities, it is becoming clear that opportunities for value accretive investment in the near term will continue to grow in accordance with our record pipeline and strong growth in the demand for cloud and AI services.”
NextDC currently has sites in planning or under evaluation in Tokyo, Japan; Bangkok, Thailand; Johor and Kuala Lumpur, Malaysia; and Singapore.
The company also has 17 operational sites across Australia. Most recently, NextDC announced the launch of its Adelaide facility.
Earlier this month, Blackstone and CPP acquired APAC operator AirTrunk in a bid to capitalize on Asian data center growth.
