Megaport has announced the opening of its retail component of a fully underwritten entitlement offer aimed at raising approximately A$827 million. The retail tranche, which opened today, is expected to raise around A$309 million, with the institutional component having already closed at 99% take-up and collected approximately A$518 million. The offer is structured on a 1 for 3.08 pro rata basis at A$14.30 per new share, with eligible retail shareholders able to apply for additional shares up to 50% in excess of their entitlement through a top-up facility.
The capital raise marks a significant step in Megaport’s strategy to combine its existing global footprint of over 1,100 data centres across 31 countries with the platform capabilities of Latitude.sh. According to CEO Michael Reid, this combination aims to create a Globally-Distributed AI Inference Cloud designed to support artificial intelligence at global scale. The strong 99% take-up from institutional investors signals considerable backing for this strategic direction from major shareholders, suggesting confidence in the company’s positioning within the rapidly growing AI infrastructure market.
For retail shareholders, the offer presents an opportunity to participate on a pro rata basis at the same price and terms as institutional investors. The availability of a top-up facility allows those seeking to increase their exposure to apply for additional shares if sufficient shortfall exists from other retail applications. Shareholders should note that the top-up facility is not guaranteed, with Megaport and the joint lead managers retaining discretion to scale back applications. The Retail Offer Booklet and Entitlement and Acceptance Form are available through the Computershare portal and contain comprehensive information about eligibility requirements and application procedures.
The combination of Megaport’s established infrastructure and Latitude.sh’s AI platform capabilities addresses what the company identifies as a significant market opportunity in distributed AI inference. This positions Megaport to compete in a sector experiencing substantial growth as enterprises increasingly look to deploy AI capabilities globally rather than concentrating workloads in single regions. The integration of these capabilities could differentiate Megaport as competitors and new entrants vie for position in the emerging AI infrastructure space.
Retail shareholders must submit applications by 5:00pm Sydney time on Monday, 29 June 2026. Key developments to monitor include the overall take-up rate from retail shareholders, which will indicate broader market sentiment toward the company’s AI strategy, and announcements regarding the Latitude.sh integration timeline. Early wins in deploying the new AI inference cloud platform will provide insight into execution capability and market demand. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Megaport Limited (ASX: MP1)
Megaport Limited is a software-defined network service provider that offers Network as a Service (NaaS) solutions enabling enterprises to connect to cloud providers, data centers, and internet exchanges on a flexible, pay-as-you-go basis. The company operates a global interconnection platform connecting approximately 3,000 enterprise customers across over 1,000 data centers worldwide. Megaport’s Marketplace enables businesses to access multiple cloud and IT service providers without relying on the public internet.
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