360 Capital Group secured in-principle approval for the planned listing on the Australian stock exchange of its 360 Capital Digital Infrastructure Fund.
The fund is scheduled to debut on the bourse on Oct. 22 on a deferred settlement basis under the proposed code TDI, subject to the completion of the IPO, according to a news release.
Shaw and Partners, Moelis Australia Advisory Pty. Ltd. and Morgans Corporate Ltd. are the joint lead managers of the offering. The real estate investment and funds management group said the trio will start marketing the fund this week for cornerstone bids, with acceptance of offers open until Sept. 23.
According to an earlier report, 360 Capital Digital has an initial soft-close target of US$250 million.
Prior to the IPO, the company closed a fundraising for A$50 million to settle its acquisition of the Perth Data Centre and to fund its A$10.6 million investment on a two-year covertible note issued by a global hyperscale data center operator. The note has an annual coupon of 10%.
