NextDC seeks ASX listing by December

Formed by Pipe Networks co-founder, the datacentre operator is also raising $40 million capital funding for expansion into Sydney.

Datacentre operator, NextDC, has applied to be an ASX-listed company by mid-December and seeks to raise $40 million for fund its expansion into Sydney.

It lodged a Prospectus with the Australian Securities and Investments Commission (ASIC) to raise the $40 million capital funding.

NextDC, co-founded by telco veteran, Bevan Slattery, started up in May and has secured sites in Melbourne and Brisbane for two new datacentres.

Slattery was also the co-founder of wholesale ISP, Pipe Networks, which was bought by TPG for $373 million.

On top of its initial equity of $20 million, it is raising $40 million capital as well as another $40 million funding from a bank to help its expansion into Sydney.

This brings the company’s total equity and debt funding to $100 million.

“[T]he directors believe NextDC will be well-positioned to meet the requirements of corporate and government customers in its initial datacentre facilities and target market in the coming years,” NextDC said in a statement.