The company, one of tech entrepreneur Bevan Slattery’s creations, said has kicked off its global expansion plans through a 1-for-8 rights issue to fund the developments and also accelerate the fit out of the S3 data centre with an extra $150 million following an increase in the contracted utlisation of the site.

The announcement of the capital raising came with an updated profit guidance for the company. Underlying EBITDA would in the range of $192 million to $196 million. That compares with the previous guidance of $190 million to $198 million.

The Kuala Lumpur centre costs were about $250 million and Auckland $140 million.

It said the remainder would be spent on general corporate purposes and transaction costs.

The capital raising would consist of a 1-for-8 pro-rata, accelerated, non-renounceable entitlement offer at a price of $10.80, a steep discount to the $11.78 it traded at yesterday.

The construction of the new centres would begin in 2024 and be completed in 2026.

Chief executive Craig Scroggie said the expansion into New Zealand and Malaysia was an important milestone in the company’s growth strategy.

“Building upon the success we have achieved in Australia over the past decade, we aim to replicate our proven business model in these new markets,” he said.

“As always, our focus remains on creating a highly diversified ecosystem of enterprise, connectivity, cloud and managed service provider customers.

“New Zealand and Malaysia are just the first greenfield geographic expansion opportunities outside Australia and we are excited about the possibilities ahead.”