• NexAI completed the transfer of Nextier Datamate Center's shares in Nextier Askara Center and Nextier GenAi Center on 7 September
  • Shareholders approved a rights issue of up to 285.73 million shares, while earlier disclosures also proposed a Rp4trn shareholder loan

The fact

PT NexAI Digital Infrastruktur completed the acquisition of shares in PT Nextier Askara Center and PT Nextier GenAi Center on 7 September. Acquisition deeds transferred all shares held in the two companies by PT Nextier Datamate Center to NexAI.

The wording refers to all shares owned by Nextier Datamate Center, rather than confirming that NexAI now owns every outstanding share in either business. The transaction followed disclosures issued in July and updated on 3 September.

NexAI shareholders also approved a change in business activities and a rights issue of up to 285.73 million new shares on 7 September. Earlier disclosures proposed a shareholder loan of up to Rp4trn from Nextier Datamate Center, with 7% annual interest and maturity by 31 December 2028.

The completed share transfer confirms the acquisitions. It does not confirm that the proposed rights-issue proceeds have been received or that the full shareholder-loan facility has been drawn.

The assessment

NexAI now owns the acquired Nextier stakes, but completing the acquisition does not by itself fund the next stage of data-centre development. Money used to buy shares and money available to build or expand facilities are separate parts of the financing plan.

That makes the rights issue and shareholder loan important after the transaction closes. NexAI will need to show how much new capital is actually raised, how much is used for acquisition-related obligations and how much remains for construction, equipment, working capital or other expansion.

For BTW readers, the ownership change is now complete, while the development funding still needs to be demonstrated. Final rights-issue proceeds, loan drawdowns, and project budgets will show how much capital NexAI can put into the acquired data-centre businesses after paying for the transaction itself.

What to watch

Watch for final rights-issue terms, proceeds received and confirmation of any shareholder-loan drawdown. NexAI's subsequent disclosures should show how those funds are divided between acquisition obligations, working capital and data-centre development. Named construction or capacity milestones would then connect the financing to physical expansion.