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.

2015 State of The IT Channel Survey : IT'S TIME!!! Fill in this year's State of the IT Channel Survey and be in the running to win great prizes. CLICK HERE

Join the ARN newsletter!

Error: Please check your email address.

Tags Data CentreNextDCAustralian Securities Exchange (ASX)

Show Comments
 

Latest News

07:47PM
NetApp secures $2m supercomputing deal with NCI
Apr 17
Mandatory Disclosure Laws needed to counter lax security attitudes: Symantec
Apr 17
Alcatel-Lucent Enterprise gears for growth following China Huaxin takeover
Apr 17
Vocus buys $15 million stake in Macquarie Telecom
More News
21 Apr
APJ Progress Spark Conference
22 Apr
2015 Innotribe Startup Challenge
27 Apr
Disruptocon
27 Apr
Disruptocon
View all events