Goodman Group (ASX: GMG) has successfully completed a fully underwritten $4.0 billion institutional placement, reinforcing investor confidence in its strategy and growth trajectory. The placement, announced on February 19, 2025, saw strong demand from both existing and new institutional investors, with Goodman issuing approximately 119.4 million new securities at $33.50 per security—a 6.9% discount to its last closing price of $35.98.
CEO Greg Goodman welcomed the support, noting that the capital raise would provide greater financial and operational flexibility as the company pursues long-term growth opportunities, particularly in data centres and essential infrastructure for the digital economy.
Settlement of the new securities is expected on February 24, 2025, with normal trading commencing the following day. While these securities will rank equally with existing Goodman securities from the date of issue, they will not be entitled to the Half Year distribution, as the record date has passed.
Alongside the placement, Goodman also announced a Security Purchase Plan (SPP), allowing eligible Australian and New Zealand securityholders to participate. More details will be provided in an SPP Offer Booklet, expected to be released on or around February 27, 2025.
As the largest property group on the ASX and a global leader in industrial and logistics property development, Goodman continues to invest heavily in assets critical to e-commerce, logistics, and digital infrastructure, positioning itself for sustained long-term growth.
