Update: NEXTDC Shares Fall 5%; Completes AU$550 Million Equity Raise

(Updates to headline and first paragraph to include stock price)

NEXTDC (ASX:NXT) shares fell 5% in Wednesday trade as the company said it had completed an around AU$550 million equity raise by issuing about 32.1 million new shares in a placement transaction at AU$17.15 per share, according to a Wednesday filing with the Australian bourse.

Settlement is expected on Sept. 13 and allotment and normal trading on Sept. 16, the filing stated.

The data center's share purchase plan of up to AU$200 million opens Sept. 18 and closes Oct. 4, according to the filing.

Price (AUD): $16.98, Change: $-0.86, Percent Change: -4.82%