Goodman Group and Digital Realty Acquire Stake in NextDC

NextDC shares surged nearly 43% to A$9.34 on Thursday following the acquisition of a nearly 10% stake in the company by Goodman Group and Digital Realty Trust. A trust co-controlled by both firms executed an aftermarket book build on Wednesday to purchase up to 9.9% of the operator at A$9.50 per share, a 45.5% premium over the previous closing price.

The NextDC board described the investment as an "opportunistic move." The acquisition provides a recovery for the company after a volatile year in which shares dropped more than 40%. That decline followed a late October decision to pause future developments and lower revenue forecasts, which erased approximately A$3 billion in market value in a single day.