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.

Sponsored Content: Collaboration has become the new movement in IT. Servers will become an integral part of this industry transition. Click here to learn more.

Join the ARN newsletter!

Error: Please check your email address.

Tags Data CentreNextDCAustralian Securities Exchange (ASX)

 

Latest News

10:47AM
Outlook app for Android and iOS boosts Microsoft's mobile comeback
10:43AM
MIT randomizes tasks to speed massive multicore processors
10:35AM
NEC aims at Big Data 'sweet spot' with new SAP Hana tool
07:17AM
BMW cars found vulnerable in Connected Drive hack
More News
23 Feb
Live Streaming Technology
05 May
CeBIT Australia 2015
27 May
World Business Forum Sydney
View all events