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NEXTDC (ASX:NXT) - CEO, Craig Scroggie
CEO, Craig Scroggie
Sourced: Courier Mail
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  • Data centre company, NEXTDC (NXT) has completed its $672 million placement and will use the money to build its third data centre in Sydney
  • Despite only being announced yesterday, shareholders were quick to snap-up the 86.1 million shares on offer
  • Shares will settle on April 7 and can begin trading on the ASX on April 8
  • Eligible shareholders can now participate in a share purchase plan and are able to purchase up to $30,000 worth of new shares
  • After emerging from a trading halt company shares are up 2.61 per cent and trading for $9.42 each

Data centre company, NEXTDC (NXT) has completed its $672 million placement and will use the money to build its third data centre in Sydney.

Despite only being announced yesterday, shareholders were quick to snap-up the 86.1 million shares on offer which were priced at $7.80 each – a 9.4 per cent discount to the five-day volume-weighted average price (VWAP).

“Achieving such a comprehensive take-up of the placement in the current market environment again serves to reinforce the strength of investor support for NEXTDC,” Managing Director and CEO Craig Scroggie commented.

“We continue to see significant growth in underlying demand for cloud services, with the success of this placement ensuring NEXTDC does not lose critical momentum in pursuing growth opportunities,” he said.

Shares will be settled on April 7 and can begin trading on the ASX on April 8.

Eligible shareholders can now participate in a share purchase plan and are able to purchase up to $30,000 worth of new shares.

The price of shares in the share purchase plan but they will be priced less than the placement price of $7.80.

Craig and all other eligible Non-Executive Directors will subscribe for the full $30,000.

The share purchase plan will open on April 14 and will close on April 30.

As announced yesterday, the $672 million will be used for the new data centre, growth opportunities, and transaction costs.

As a result of many office workers now working from home, NEXTDC has seen a significant increase in demand for its data centres.

This new data centre will initially have a load of 12 megawatts but it has the capacity to host 80. The company is aiming to have it ready in the first half of the 2022 financial year.

NEXTDC will also use the money to add extra data capacity to already existing sites, and purchase additional land so more centres can be built.

After emerging from a trading halt company shares are up 2.61 per cent and trading for $9.42 each at 12:47 pm AEDT.

NXT by the numbers
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