NextDC raises $33.6 million to buy Sydney property

NextDC raises $33.6 million to buy Sydney property

More shares to be issued in coming months

ASX-listed NextDC (ASX:NXT) has successfully raised $33.6 million to fund Sydney property acquisition and the expansion of existing properties.

Yesterday, the company placed a trading halt pending this announcement. The capital raising exercise is in line with the company’s March 14 announcement that it has found Sydney real estate favourable to its expansion plans.

An exact breakdown of the investments the $33.6 million will go towards are as follows:

- $12 million for the acquisition of a Sydney property

- $23.6 million for additional expansion at existing facilities

- $3 million for additional working capital and for offer costs.

The datacentre provider will engage in further capital raising exercises through a share purchase plan (SPP), with an aim to raise an additional $5 million. That allotment of shares has an indicative completion date of April 21.

The trading halt is now lifted.

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Tags Share Purchase PlanNextDCproperty acquisition

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