NextDC's Hybrid Securities Issue Removes Pressure to Raise Equity -- Market Talk

Dow Jones
04/08

2314 GMT - NextDC's decision to raise A$1 billion from issuing hybrid securities removes pressure on the data-center operator to raise equity, at least in the short term, says Jefferies. NextDC's hybrid securities offer is underwritten by Canada's La Caisse. Analyst Roger Samuel says NextDC had proforma liquidity of A$5.2 billion at end-December 2025, if the hybrid securities are accounted for. It includes A$278 million in cash. "This provides runway for the next two years, or circa 250MW of data center build-out, based on build costs of circa A$20 million/MW including core and shell (ex-land)," Jefferies says. It retains a buy call on NextDC and lowers its price target by 11% to A$16.60/share. NextDC ended Tuesday at A$12.60. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

April 07, 2026 19:14 ET (23:14 GMT)

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