NEXTDC Momentum expected from new customer contracts
Momentum expected from new customer contracts:NEXTDC stock has moved up 26.7% this year to date (as at September 11, 2017) while this Data-Centre-as-a-Service (DCaaS) provider had reported FY17 results in line with its guidance (statutory net profit after tax of $23.0 million over FY16 figure of $1.8 million). NXT also increased its senior secured debt facilities from $100 million to $300 million. FY18 outlook includes about 14-25% growth in EBITDA over prior year and as per the expectations. In a recent update, the Board of Asia Pacific Data Centre Group (APDC, which has been approached by NXT for a takeover) has been said to be in discussions with 360 Capital Group on the development of an alternative proposal to acquire APDC securities. The offer constituted a $0.65 capital distribution by APDC and $1.30 cash consideration paid by 360 Capital. APDC is open to 360 Capital for an all-cash, fully-funded takeover bid at a price which exceeds the offer price of $1.87 under the NEXTDC Offer. Otherwise, APDC Board has recommended the security holders to accept the NEXTDC Offer in the absence of a superior proposal.
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