Macquarie Technology Group is attempting to raise $88 million for a new data facility

Macquarie Technology Group is raising 88 million dollars to finance its Sydney data center. The company is raising capital through a non-underwritten institutional placement to increase its liquidity and free float. The business offers 2.22 million additional fully paid shares at $39.61 per share, which is 7.6% less than its most recent closing price of $42.86. If successful, Macquarie will add an additional data center to the Sydney North campus. The precise location has not been disclosed. Macquarie will now operate six data centers, one in Sydney's central business district, two on its Macquarie Park Campus, and two in Canberra.

According to the corporation, over ninety percent of Macquarie's revenue is from monthly recurring contracts. Due to Canaccord Genuity's efforts to raise capital, Macquarie has entered a temporary trading halt that will be lifted on June 14. Recently, Macquarie upgraded its IC5 data center in Canberra, as well as its IC2 and IC3 East facilities in Sydney. Improvements included the addition of two additional ultra-secure zones, as well as power and operational enhancements. A 10MW tenant resides at IC3, although the customer's identity is confidential. Macquarie has previously stated that it hosts data for "two of the big three" cloud providers.

The company's "certified strategic status" with the federal government prohibits the hosting of government data in its infrastructure. After Chinese investors acquired data center company Global Switch in 2021, the Australian government required that data be hosted in on-site data centers certified by the Digital Transformation Agency.