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An announcement from Nextdc Limited ( (AU:NXT) ) is now available.
NEXTDC Limited has completed the institutional component of its fully underwritten pro-rata accelerated non-renounceable entitlement offer, raising about A$1.0 billion at A$12.70 per new share. The offer saw strong support, with approximately 98% take-up by eligible institutional shareholders and the small shortfall allocated to those seeking additional stock.
The equity raising, together with a previously announced hybrid securities offer and other funding measures, is intended to strengthen NEXTDC’s liquidity to support its record 544MW pro forma forward order book. A fully underwritten retail entitlement offer targeting around A$0.5 billion will open on 27 April and close on 11 May, giving eligible retail investors the chance to take up entitlements and apply for additional shares under a top-up facility, subject to scale-back.
New shares issued to institutional investors are expected to begin trading on 30 April, while NEXTDC shares resume trading immediately following the lifting of a trading halt. The detailed timetable sets settlement, allotment and trading dates for both institutional and retail components, underscoring the company’s push to quickly lock in capital for its expanded data centre development pipeline.
The most recent analyst rating on (AU:NXT) stock is a Buy with a A$22.55 price target. To see the full list of analyst forecasts on Nextdc Limited stock, see the AU:NXT Stock Forecast page.
More about Nextdc Limited
NEXTDC Limited is an Australian data centre operator that designs, builds and operates carrier- and cloud-neutral colocation facilities. The company provides critical digital infrastructure to enterprises and cloud providers, supporting high-density computing and interconnection needs. Its growth strategy is underpinned by large contracted power capacity and long-term customer agreements.
Average Trading Volume: 2,395,060
Technical Sentiment Signal: Buy
Current Market Cap: A$8.58B
For detailed information about NXT stock, go to TipRanks’ Stock Analysis page.