Asia Pacific Data Centre Group begins trading on ASX

NextDC has spent about $5.8 million on establishing APDC, which will run as an independent entity.

Data centre real estate investment trust, Asia Pacific Data Centre (APDC) Group, has begun trading on the Australian Securities Exchange, using the ticker AJD.

NextDC spent about $5.8 million on establishing APDC, which will acquire NextDC’s Sydney (S1), Melbourne (M1) and Perth (P1) datacentre sites and lease them back to NextDC via a triple net lease.

The portfolio of property assets have been valued independently at $138.8 million.

NextDC has received the first consideration for the sale of the assets totalling $69.5 million in the form of $53.37 million in cash and 26.45 million partly-paid stapled securities in APDC, representing a 23 per cent holding.

APDC will pay a development fee of $45.5 million for S1 and $23.8 million development fee for P1.

It will also contribute $10.3 million for the final installment due in May.

APDC will run independently with its own board and management team. It has appointed Francina Turner as its executive director and CEO and Ian Fraser has joined as independent non-executive chairman. Other appointments include Chris Breach and John Wright as independent non-executive directors and Greg Baynton as non-executive director.

The two companies have entered into a three-year alliance where APDC has the first right of refusal for any new datacentre property developments undertaken by NextDC, which will also be the sole tenant of the properties.

“The completion of APDC offer and long-term alliance arrangements provide future flexibility for NextDC to continue its plans for growth through capital recycling,” NextDC CEO, Craig Scroggie, said in a statement.

NextDC announced its intentions to float APDC on the ASX in July last year, and at the time Scroggie said that APDC would provide an investment opportunity in high quality datacentre assets in Australia, with possible expansion into Asia.

References show all
Comments are now closed.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: NextDC, Data Centre, Australian Securities Exchange (ASX)
Get exclusive access to ARN's news, research and invitation only events.
ARN Distributor Directory
ARN Vendor Directory
Microsites

iAsset is a channel management ecosystem that automates all major aspects of the entire sales,marketing and service process, including data tracking, integrated learning, knowledge management and product lifecycle management.

 

Latest News

03:39PM
Cloud an alternative to growing IT complexity: Schneider Electric
02:49PM
Telstra partners New Zealand firm Mako Networks
02:33PM
Fujitsu and Panasonic join forces in new semi-conductor business
12:12PM
HP unveils its flash-driven XP7 storage
More News
24 Apr
The China Healthcare ICT Conference 2014
05 May
CeBIT Australia 2014
06 May
Oracle Day 2014 - Across 2 Cities
06 May
Oracle Day 2014 - Across 2 Cities
View all events