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Asia

Southern Cross Electrical Raises Fiscal 2026 EBITDA Outlook; Secures AU$150 Million of Work Awards; Launches Capital Raising Initiatives

Southern Cross Electrical Engineering (ASX:SXE) said it is raising its profitability outlook for fiscal 2026 after securing more than AU$150 million of new work awards, according to a Monday filing with the Australian bourse.The awards include one for its Heyday subsidiary for initial electrical and communications works on the first stage of Nextdc's (ASX:NXT) S4 Data Centre at Horsley Park, New South Wales, as well as one for its Trivantage Manufacturing unit to supply low voltage switchroom skids for a facility in Western Sydney.Lastly, the company's SCEE Electrical subsidiary secured a master construction agreement for electrical, instrumentation and controls works from Rio Tinto (ASX:RIO).Southern Cross now expects underlying fiscal 2026 earnings before interest, taxes, depreciation, and amortization (EBITDA) of at least AU$75 million, up from previous guidance of at least AU$72 million.The company also issued fiscal 2027 EBITDA guidance of at least AU$100 million, representing a 33% increase on the outlook for the current fiscal year.Additionally, Southern Cross is launching a AU$150 million fully underwritten institutional placement at an indicative range of AU$3.85 to AU$4 per share, as well as a AU$15 million non-underwritten share purchase plan. The company is also increasing an existing bank guarantee facility to AU$100 million from AU$75 million, adding a new revolving credit facility of AU$50 million to fund working capital needs, and signed a new AU$50 million facility to fund future acquisitions.Following the completion of these capital initiatives, the company expects to have pro forma liquidity of about AU$308.8 million, it said.Southern Cross also appointed Peter Bierton to the newly created role of chief operating officer, effective Aug. 24. Bierton most recently served as the CEO of Mainmark, a ground engineering and asset preservation company.Trading in the company's shares was halted.Nextdc's shares were up almost 4% in recent Monday trade, while Rio Tinto's shares gained roughly 2%.

ASX:NXTASX:RIOASX:SXE
Asia

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday.Alcoa Corp (ASX:AAI): +4%, AU$93.22South32 (ASX:S32): +4%, AU$4.29Capstone Copper (ASX:CSC): +3%, AU$13.81James Hardie Industries (ASX:JHX): +3%, AU$28.97Evolution Mining (ASX:EVN): +3%, AU$12.18Rio Tinto (ASX:RIO): +2%, AU$186.03NEXTDC (ASX:NXT): +2%, AU$14.91SGH (ASX:SGH): +2%, AU$41.81Lynas Rare Earths (ASX:LYC): +2%, AU$18.92Pilbara Minerals (ASX:PLS): +2%, AU$6.28

ASX 200ASX:AAIASX:CSCASX:EVNASX:JHXASX:LYCASX:NXTASX:PLSASX:RIOASX:S32ASX:SGH
Asia

Nextdc Completes AU$480 Million Retail Entitlement Offer

Nextdc (ASX:NXT) successfully closed the retail component of its fully underwritten 1-for-5.4 accelerated non-renounceable entitlement offer, raising around AU$480 million at AU$12.70 per new share, as part of a broader AU$1.5 billion capital raising, according to a Thursday filing with the Australian bourse.The retail offer saw strong participation from eligible shareholders, with valid applications totaling about AU$407 million, representing an around 85% take-up rate, per the filing.The remaining around 5.7 million shares worth about AU$73 million that were not taken up by eligible or ineligible retail shareholders will be allocated to sub-underwriters, the filing added.The company's shares shed about 1% in recent Thursday trade.

ASX:NXT
Asia

Nextdc Contracted EBITDA Expected to Exceed AU$1 Billion, RBC Capital Markets Says

Nextdc's (ASX:NXT) contracted earnings before interest, taxes, depreciation, and amortization (EBITDA) is expected to exceed AU$1 billion as the forward order book converts to billing utilization progressively through fiscal 2030, RBC Capital Markets said in a note on Monday.The company's pro forma contracted utilization as of March 31 came in at 667 megawatts, rising by around 250 megawatts since Dec. 31, 2025, while the forward order book increased by 247 megawatts to 544 megawatts.Nextdc's recent capital raising removes near-term funding risk, with pro forma liquidity increasing materially.RBC forecast fiscal 2026 revenue of AU$485 million and underlying EBITDA of AU$233 million, as well as fiscal 2027 revenue of AU$761 million and underlying EBITDA of AU$365 million.The investment firm reiterated an outperform rating on Nextdc with a price target of AU$22.Nextdc's shares fell nearly 3% in recent Tuesday trade.

ASX:NXT
Asia

Nextdc Says JPMorgan Chase Ceases to be a Substantial Shareholder

Nextdc (ASX:NXT) received notice that JPMorgan Chase and its affiliates are no longer substantial holders of the company from Tuesday, according to a Friday filing with the Australian bourse.JPMorgan Chase and its affiliates became a substantial holder of the company on Monday, with a total voting power of 5.45%, an earlier filing showed.Nextdc's shares shed about 1% in recent Friday trade.

ASX:NXT
Asia

NEXTDC Completes Nearly AU$2 Billion Wholesale Offering of Subordinated Hybrid Securities

NEXTDC (ASX:NXT) completed the AU$1.7 billion wholesale offering of subordinated hybrid securities, comprising both the initial AU$1 billion series and the AU$700 million delayed draw series, according to a Thursday filing with the Australian bourse.Canada-based investment group La Caisse committed to subscribe for AU$1 billion and AU$700 million in the initial series and delayed draw series, respectively, the filing said.Settlement and issue of the initial series are expected to take place on May 15, while the delayed draw series may be issued within 12 months from May 6, subject to customary conditions precedent, per the filing.

ASX:NXT
Asia

Nextdc Secures AU$1.8 Billion in New Senior Debt Facilities

Nextdc (ASX:NXT) secured credit-approved commitments for AU$1.8 billion in new senior debt facilities from a syndicate of leading domestic and international banks, according to a Monday filing with the Australian bourse.The company's total senior debt capacity will increase to AU$8.2 billion from AU$6.4 billion following financial close, with pro forma liquidity rising to around AU$8.4 billion as at June 30, per the filing.The funds will be used primarily to support capital expenditure requirements associated with recent customer contract wins, ongoing data center developments, and general corporate purposes, the filing said.

ASX:NXT
Asia

Nextdc Launches AU$500 Million Retail Entitlement Offer

Nextdc (ASX:NXT) opened the retail portion of its fully underwritten 1-for-5.4 accelerated non-renounceable entitlement offer to raise about AU$1.5 billion in total, according to a Monday filing with the Australian bourse.The retail offer, expected to raise around AU$500 million, is priced at AU$12.70 apiece, the same price used in the institutional component, which recently closed and raised about AU$1 billion, per the filing.Eligible retail shareholders who fully exercise their entitlement may also apply for additional new shares up to 100% of their entitlement at the offer price under the top-up facility, the filing added.

ASX:NXT
Asia

NEXTDC Prices AU$750 Million Subordinated Notes

NEXTDC (ASX:NXT) has successfully priced and allocated AU$750 million of 4-year floating rate subordinated notes in the Australian wholesale debt market, with the margin set at three-month bank bill swap rate plus 350 basis points, according to a Friday filing with the Australian bourse.The issuance is part of the company's broader capital plan, alongside its entitlement offer and AU$1.7 billion hybrid securities deal, supporting record contracted utilization and its AU$2.2 billion expansion strategy, per the filing.Settlement and issuance are scheduled for April 30, subject to standard conditions, the filing added.

ASX:NXT
Asia

Nextdc Lifts Fiscal 2026 Capex Guidance Amid Surge in Contracted Demand

Nextdc (ASX:NXT) lifted its fiscal 2026 capital expenditure guidance to AU$2.7 billion to AU$3 billion from AU$2.4 billion to AU$2.7 billion previously after reporting a 60% increase in contracted utilization to 667 megawatts and an 83% jump in its forward order book to 544 megawatts, according to a Monday filing with the Australian bourse.The company expects higher contracted utilization and its order book to steadily convert into revenue, billing utilization, and earnings before interest, taxes, depreciation, and amortization (EBITDA) over fiscal 2026 to fiscal 2030, supported by ongoing expansion and early procurement at its S4 facility, the filing said.The company's fiscal 2026 net revenue and underlying EBITDA guidance remain unchanged, the filing added.

ASX:NXT