In brief: NextDC to list on ASX

Plans to raise $40 million in capital

Neutral data centre provider NextDC has lodged a prospectus with the Australian Securities and Investments Commission (ASIC) to raise $40 million as it plans to list on the Australian Securities Exchange (ASX).

NextDC expects to list on the ASX by December. The company was incorporated in May 2010 and has received $20 million of initial equity capital from its founder and former Pipe Networks chief, Bevan Slattery.

NextDC has already secured sites in Melbourne and Brisbane. It is currently developing two data centres on those sites and is targeting an expansion into Sydney following its IPO.

In addition to the initial equity of $20 million and the $40 million IPO capital raising, the company has secured a credit approved finance facility of $40 million.

According to market research conducted by the company, data centre supply side constraints are expected to continue, given a mix of factors including limited site availability, and limited access to the expertise required in constructing a data centre.

NextDC will be the only listed neutral data centre operator in Australia.

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