By David Winning
SYDNEY–New Zealand investment company Infratil said the value of its roughly 48% stake in the CDC Data Centres business has risen by 13% over the past six months.
Infratil said CDC is now worth between 3.641 billion Australian dollars (US$2.32 billion) and A$4.186 billion, representing a valuation gain of A$448 million through the end of March.
“CDC’s data center design, operating model and customer base is strategically positioned to benefit from the new growth in demand for artificial intelligence services,” said Chief Executive Jason Boyes. “These market dynamics have seen a significant uptick in inbound customer interest.”
CDC is expecting a significant acceleration of construction and expansion of development planning in Canberra, Sydney, Melbourne and Auckland, he said.
CDC’s net debt totaled A$2.27 billion at the end of September. Infratil said CDC continues to expect earnings before interest, tax, depreciation, amortization and financial derivative movements of between A$260 million and A$270 million in the 2024 fiscal year.
Write to David Winning at [email protected]
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