NEXTDC has launched a large capital raising effort to fund two new data centres in Kuala Lumpur and Auckland, New Zealand, as part of regional expansion plans.
Furthermore, NEXTDC said that due to recent contract wins, taking the utilisation of its S3 site in Sydney from 35.9 MW to 120 MW, achieving a use equivalent of 46 per cent of the planned capacity, the data centre operator intends to invest $150 million to accelerate the fitout at the facility.
In an announcement [pdf] to the Australian Securities Exchange, the company said the total $618 million placement will be in the form of offers for both institutional and retail investors.
The company plans to spend $250 million building a 65 MW data centre on recently-acquired real estate in Kuala Lumpur (to be called KL1), and $140 million on a 10 MW data centre in Auckland (AK1).
The first phase of KL1 will be 7.5 MW while AK1's first phase will deliver 1.7 MW.
The Auckland site's maximum capacity will be 15 MW "based on higher density deployments", the company said.
Construction on the sites will begin in 2024, with completion due in 2026.
The share offer is a one-for-eight entitlement offer priced at $10.80 per new share.
The company also updated its full-year 2023 guidance, with forecast data centre revenue upped from $340-$355 million to $350-$360 million; and forecast capex of $670 to $720 million (to take into account the $53 million cost of the Kuala Lumpur site).
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