NEXTDC is seeking to raise $1.3 billion through a fully underwritten 1-for-6 pro-rata accelerated non-renounceable entitlement offer of new shares.

The move is intended to expedite the development of its digital infrastructure platform in Sydney and Melbourne, responding to a surge in customer demand.

The funds will also support the construction and expansion of key data centres, such as S3, S4, and S5 in Sydney and the M2 in Melbourne.

The offer price for new shares is set at $15.40.

Post-offer completion, NEXTDC expects pro-forma tangible asset backing of approximately $5.1 billion and liquidity of around $3.4 billion, reaffirming its FY24 guidance.