Magnora Data Center ASA: First pure-play data center share listed in Europe

The listing of Magnora Data Center ASA on Euronext Growth Oslo represents the first publicly available European opportunity for pure-play exposure to the fast-growing data center market.

Magnora Data Center ASA, which up until now has been a fully owned subsidiary of the international project developer Magnora ASA, recently completed a private placement raising gross proceeds of NOK 650 million. On Monday 8 June, the company goes public on Euronext Growth Oslo under the ticker MDATA. The listing provides investors with the opportunity for exposure to the European data center market.

“We are very pleased with the strong investor interest in Magnora Data Center ASA. The private placement last week was multiple times oversubscribed and raised the full NOK 650 million we targeted. The broad and international interest from high-quality institutional investors reflects confidence in the company, our capabilities and the growth opportunity the European data center market represents”, says Executive Chairman Erik Sneve.

The private placement attracted interest from large institutional investors internationally, as well as leading Nordic asset managers including DNB Asset Management, Nordea Asset Management AB, and FIRST Fondene.

With a project portfolio of gross 585 MW across Norway, Sweden, Finland and Italy, Magnora Data Center supports the growing demand for data processing, cloud services and artificial intelligence applications. The proceeds from the private placement will allow Magnora Data Center to accelerate its project origination, development and investments.

“There is an enormous demand for AI compute capacity globally and Europe is setting firm goals to catch up. The listing of Magnora Data Center is an opportunity for both institutional and retail investors to take part in the growth of the European data center market supporting the AI revolution”, Sneve concludes.

CONTACT Erik Sneve, Executive Chairman: es at magnoraasa.com

ABOUT THE COMPANY Magnora Data Center ASA (OSE: MDATA) is a data center developer and operator, present in Norway, Sweden, Finland, and Italy, headquartered in Oslo Norway. The group operates capital-light in primarily early phases of project development, but with flexibility for investing in also later stages. Magnora ASA currently holds a 52.7% stake in the company.