Macquarie Technology Group is planning to raise $130 million in capital to fund the development of a new data centre facility at its Sydney North campus. The company has requested a trading halt in order to issue the prospectus for the fundraising.
Currently, Macquarie Technology Group operates five data centres, including one in Sydney CBD, two in its Macquarie Park campus, and two in the Australian Capital Territory (ACT). It boasts major public cloud providers as customers and holds certified strategic status with the federal government.
While the location of the new facility is not specified, the company mentions that its current development focus is in Sydney’s desirable north zone.
The prospectus highlights digitization and AI as key drivers for data centre growth. The capital raising, which aims to secure around 2.2 million fully-paid shares, is expected to be settled by June 20.
In related news, Macquarie Group recently announced the early completion of two secure zones and other upgrades in Sydney and Canberra.
The data centre industry in Australia is experiencing significant growth. CDC announced a billion-dollar expansion of its Eastern Creek campus in December 2022 and acquired land in Bringelly in May 2023 for another facility. NEXTDC also launched a $618 million placement in May to fund the construction of two new data centres and accelerate the fitout of its S3 site in Sydney.
