IFT are raising a billion for further investment in Data centres through their holding in CDC.

Full announcement here:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02817651-2A1529211

This may well generate a bit of attention and recognition in the market they are also an AI and Data Centre play with a possible margin expansion.

Here is a summary of their current portfolio construction

So IFT owns just under 50% of CDC, the Commonwealth Bank and the Future Fund own the rest.

In March Infratil stated CDC currently has 264 MW of capacity, they have a further 416 MW currently under construction and are targeting a total of 1,220 MW.

This latest update increases the total target build capacity to 1,870 MW and implies they will be bringing on capacity faster and in larger volume. Its a profitable part of the business generating 350m Revenue at 75% EBITDA margin.

By comparison, NextDC has more installed capacity but less planned to be built out:

And although these are not directly comparable companies, one being a pure play Datacentre play vs a portfolio of multiple holdings the Valuations also vary significantly (from Yahoo finance):

NextDC

vs IFT

Happy holder of IFT and will be taking up at least some of my retail entitlement.

I don't hold NextDC

Any thoughts/comments/holes in the maths?

Australian super lobs 5.1 bn takeover offer. 
 

see ann yesterday re possible TLT sale (a major holding of IFT).

it's likely Australian super are primarily interested in this holding  

CDC part of the company will likely be extremely attractive and will hopefully pull in other bidders. 
 

this was one of my favourite stocks and it will be hard to replace.