NextDC is looking to raise A$672 million ($404 million) to fund the development of its third data center in Sydney, which the company is calling S3.
Citigroup Global Markets Australia and Royal Bank of Canada have agreed to conduct the placement at A$7.80 ($4.70) per share, which represents a discount from its regular share price of around A$9 ($6).
NextDC announced that it has decided to commence development of the first tower of S3.The S3 data center is located about 10 kilometers (6.2 miles) away from the Sydney CBD, and 7 kilometers (4.3 miles) and 8 kilometers (4.9 miles), respectively, from the existing data centers, S1 and S2.
NextDC is planning to invest A$350 million ($210 milion) in the project initially, which will offer 12 megawatts of upfront capacity.
“Based on the strong level of orders already received for S2 and our growing confidence in the forward sales pipeline, NEXTDC is confident that the projected demand in Sydney, together with o
