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.

Tags NextDCData CentreAustralian Securities Exchange (ASX)

Comments

Comments are now closed

 

Latest News

12:09PM
Impact Systems boss wants to buy 10 resellers
11:50AM
Dicker Data exceeds its own expectations in FY2015 Q1
09:18AM
Victorian government funds development of digital Court Triage Service
08:54AM
Lenovo acquisition of Motorola finalised
More News
05 Nov
LIVE Webcast: Lessons Learned from the Biggest Security Breaches
05 Nov
vForum 2014
10 Nov
Ascom Myco Launch Event
11 Nov
DCIM Certified Solutions Professional
View all events