Canada Pension Plan Investment Board has invested A$76 million ($55 million) in NextDC, acquiring 36.75 million shares at A$12.70 ($9.20) each as part of the company’s A$1.5 billion ($1.1 billion) entitlement offer, according to Mingtiandi.
The equity purchase forms part of a broader capital raise of nearly A$4 billion ($2.9 billion) by NextDC, which also includes A$1.7 billion ($1.2 billion) in hybrid securities acquired by La Caisse and A$750 million ($540 million) in newly issued subordinated notes.
CPPIB’s investment pushed its stake above the 5 percent disclosure threshold under Australian law, with the bulk of shares acquired on April 30 following the institutional portion of the offering.
The fundraising supports NextDC’s expansion plans, including development of a data center campus in Horsley Park.
