Real estate solutions provider Figtree Holdings has, through its 27%-owned associate company DC Alliance (DCA) subscribed to 138.9 million shares in DXN, a manufacturer and operator of modular data centres, for A$1.25 million ($1.23 million).

DXN, an Australian Stock Exchange (ASX)-listed company, has data centres in Sydney, Darwin and Tasmania.

The subscription was made via a placement exercise, with DCA as a lead investor. The subscription shall be satisfied by DCA using internally generated funds. The subscription price 0.9 Australian cents represents a 16% discount to DXN’s 30-day volume weighted average share price (VWAP) as at Sept 6.

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