Goodman Group (ASX:GMG) Completes $4.0 Billion Placement
Placement Details
Goodman Group (ASX:GMG) has successfully completed a fully underwritten pro-rata institutional placement, raising approximately $4.0 billion. The placement involved issuing around 119.4 million new securities at $33.50 each, representing a 6.2% increase in securities on issue and a 6.9% discount to the closing price of $35.98 on 18 February 2025.
Executive Comments
Group Chief Executive Officer, Greg Goodman stated, “We’re very pleased with the strong support we’ve received from both existing and new institutional investors for this Placement. It highlights continued confidence in Goodman’s established strategy of providing essential infrastructure for the digital economy.
The funds raised will enable us to optimise the opportunities we’re creating over the long term, particularly through our data centre offering, and provide greater financial and operational flexibility to manage the next phase of growth.”
Settlement of Placement Securities
Settlement of the new placement securities is expected on 24 February 2025, with allotment and normal trading commencing on 25 February 2025. The new securities will rank equally with existing Goodman securities from the date of issue and will not be entitled to the Half Year distribution as the record date has passed.
Security Purchase Plan
On 19 February 2025, Goodman also announced a Security Purchase Plan (SPP). Details will be provided in the SPP Offer Booklet, released to the ASX and available to eligible Securityholders in Australia and New Zealand around 27 February 2025.
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group. The Motley Fool Australia has recommended Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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