NEXTDC Limited (ASX: NXT) announced a significant increase in its contracted utilisation and a substantial capital plan on 20 April 2026. NEXTDC, an ASX 100-listed technology company, serves as Asia’s data centre-as-a-service provider, building critical infrastructure for the digital economy. The company reported a pro forma contracted utilisation increase of approximately 250 megawatts (MW), or 60%, to 667MW as at 31 March 2026, marking a rise from 31 December 2025. Its pro forma Forward Order Book also surged by 83% to 544MW over the same period.
To address this accelerated demand and fund its capital plan of approximately A$2.2 billion, NEXTDC is launching a fully underwritten 1 for 5.4 pro-rata accelerated non-renounceable entitlement offer, aiming to raise A$1.5 billion. New shares are priced at A$12.70 each, representing an 8.6% discount to the Theoretical Ex-Rights Price (TERP) of A$13.90. Additionally, the company increased its Hybrid Securities Offer by A$700 million through a new delayed draw tranche, bringing the total to A$1.7 billion. This includes an incremental A$700 million binding commitment from La Caisse, enhancing its existing A$1.0 billion commitment. These initiatives are expected to provide pro forma liquidity of approximately A$5.9 billion.
The record contracted utilisation, particularly at its S4 facility, necessitates an accelerated development. NEXTDC plans to invest approximately A$1.5 billion in S4’s accelerated development through to the end of FY27. Consequently, the company has raised its FY26 capital expenditure (capex) guidance by A$300 million to a range of A$2,700 million to A$3,000 million. Looking to FY27, capex is forecast at approximately A$5.0 billion. CEO Craig Scroggie noted the move aims to capture growing customer demand and de-risk Western Sydney developments. The company anticipates contracted EBITDA from existing contracts to exceed A$1.0 billion.
