Megaport opens $309M retail offer for AI expansion
Enterprise tech provider Megaport (ASX:MP1) has opened the retail component of its fully underwritten $827.3 million entitlement offer, aiming to raise approximately $309 million.
The capital injection will fund the company’s latest artificial intelligence infrastructure contracts and seed an on-demand graphics processing unit pool.
Eligible retail shareholders in Australia and New Zealand are invited to participate at an issue price of $14.30 per new share, mirroring the pricing of the previously completed institutional tranche, which successfully raised $518 million.
The initiative underpins Megaport’s broader pivot to establish a globally distributed AI inference cloud, leveraging its existing footprint of over 1,100 connected data centres across 31 countries.
Under the terms of the retail offer, shareholders who take up their full entitlement can apply for additional new shares up to a maximum of 50% in excess of their initial allocation via a top-up facility.
The retail entitlement offer is scheduled to close on June 29.
The launch follows overwhelming support from institutional investors, signalling strong market validation for Megaport’s infrastructure expansion.
"The exceptional 99% take-up in the institutional offer reflects the strong support of our institutional shareholders and their confidence in our strategy," said Megaport CEO Michael Reid.
Capital raised will primarily fund capital expenditure for high-performance NVIDIA GPUs, networks, and storage infrastructure to fulfil a combined $458.9 million in total contract value for newly secured AI workloads.
