In brief: NextDC gears up for capital raising round

Initiates trading halt pending capital raising announcement

Recently listed data centre provider, NextDC (ASX:NXT), has initiated a trading halt on the stock exchange pending at the beginning of a capital-raising round from the company.

The halt, initiated before trading began on Thursday morning, could extend until Monday or until the company releases the relevant announcement.

The ASX-listed provider raised $40 million in its initial public offering last year.

The pending announcement comes as the latest in a series of moves made within days of each other over the past week, which included new hires and progress on plans to erect new data centres in Melbourne and Sydney. The Melbourne centre is expected to be its largest at 14,000 square metres.

The first data centre, a 2300 square metre facility in Brisbane, was initially scheduled for launch in December last year but is currently slated for occupancy later this month. Key power equipment to be installed in February was pushed back due to floods in Queensland and reprioritisation of utility staff to rebuilding efforts, and will instead be put in next month.

Company founder and former chief executive of Pipe Networks, Bevan Slattery, told a Gartner data centre summit in Sydney this week that the lack of data centre space throughout Australia provided ample opportunity for NextDC to grow.

“There are a lot of people talking about data centres but they aren’t really doing anything about it,” he said.

Follow James Hutchinson on Twitter: @j_hutch

Follow Computerworld Australia on Twitter: @ComputerworldAU

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