Australia’s NEXTDC launches A$2.2 billion capital plan
April 20, 2026 – 7:43 am
The ASX-listed data centre operator is raising A$1.5 billion in a fully underwritten equity offering and expanding its hybrid securities programme by A$700 million, with La Caisse de dépôt et placement du Québec now committed to a total of A$1.7 billion. The raise will fund accelerated development of the S4 Western Sydney campus, where contracted utilisation jumped 250 megawatts in a single quarter.
NEXTDC (ASX: NXT) Launches A$2.2 Billion Capital Plan
NEXTDC has halted trading to launch a A$2.2 billion capital plan anchored by a fully underwritten A$1.5 billion equity entitlement offer, announced on Monday. The raise is in response to a significant increase in demand: between December 2025 and March 2026, NEXTDC’s pro forma contracted utilisation rose 60% to 667MW, with its forward order book growing by 83% to 544MW.
Key Points:
- Equity Offer: Structured as a 1-for-5.4 pro-rata accelerated non-renounceable entitlement offer at A$12.70 per share, an 8.6% discount to the theoretical ex-rights price.
- Proceeds: Primary use is for accelerated development of S4 data centre campus in Western Sydney, with approximately A$1.5 billion investment through FY2027.
- Hybrid Securities: Expansion of programme backed by a A$1.7 billion commitment from La Caisse de dépôt et placement du Québec.
- Future Plans: Potential strategic partnership transactions with private capital partners from 2027, following facility contraction and de-risking.