Thoughts on NextDC (NXT) raising please
Hi Guys I d like your thoughts and insight on the NextDC raising Pl`s Keep up the good work in this very choppy market cheers Paul M
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Answer
Hi Paul,
Thanks for the thumbs up, much appreciated!
NXT is raising $618mn to build 2 new data centres, adding sites in Malaysia and NZ, as it expands outside of Australia. The offer effectively was placed at an 8% discount to the last price at the time of $11.78, the shares closed ta $11.73 on Thursday illustrating the markets appetite for the stock below $12, NXT also upgraded guidance albeit slightly which adds weight to the company’s expansion.
- We like the move by this Brisbane based business as it adds a clear runway for further growth. We think the stock should trade higher over time.
