Australia’s NEXT DC Raises $40 Million in IPO

Australia’s NEXT DC hasn’t yet opened any of its data centers. But today the company became the latest data center provider to make an initial public offering. NEXTDC Limited said today that the company has been admitted to the Official List of ASX Limited following a successful IPO that raised $40 million. NEXTDC commenced trading under the ticker NXT, and shares quickly rose from the $1 offering price to about $1.50 per share, reports SmartCompany.

“The company is committed to establishing NEXTDC as a key market participant in the Australian and New Zealand data centre services market – by designing, developing and operating a network of secure, efficient and stable enterprise class data centres,”  saidRoger Clarke, Chairman of NEXTDC. “I would like to congratulate everyone involved in the IPO process including NEXTDC staff, its advisers including Moelis & Company, RBS Morgans, Clayton Utz and PricewaterhouseCoopers and, most importantly its institutional and retail shareholders.”

Earlier this month NEXTDC also announced that Harbour MSP would be its first and anchor client at its state-of-the-art Melbourne data centre facility. The company is on track to achieve its planned ‘online’ date for its initial data centres in Brisbane and Sydney (March 2011) and Melbourne (November 2011).

NEXT DC was started by entrepreneur Bevan Slattery, the founder of PIPE Networks.

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About the Author

Rich Miller is the founder and editor at large of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.

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