Goodman Property Trust reports it successfully placed $60 million of new units with local and offshore investors yesterday, as part of an $80 million equity-raising to help fund the $186.6 million buy-out of Auckland's Highbrook business park.
Allotment will occur on November 16. The placement was fully subscribed at the fixed issue price of $1.015625 cents per unit.
"Our institutional investors have recognised the value of the Highbrook transaction and the many benefits that it offers," says John Dakin, chief executive of Goodman (NZ), which manages the trust.
The company will seek a further $20 million from New Zealand-resident retail investors in an offer scheduled to open on November 30.
GMT units were unchanged at $1.06 in trading on the NZX yesterday.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Sage isn’t “relatively safe” says Xero’s UK boss
- Serious cybersecurity skills shortage sparks calls for better training
- Gaming company founder after acquisition: 'we will retain control'
- Banks don’t like tiny apartments: a flaw in the Auckland unitary plan
- NZ government should maximize TPP ‘wiggle room,’ says InternetNZ boss
Most listened to
- Business Week in Review with Grant Walker & Andrew Patterson
- NBR Radio Rich List Special: Interviews with Rich Listers, philanthropists, property gurus, investors and much, much more
- “Trevor Mallard better watch out” - Matthew Hooton
- Rodney Hide on government spending
- Michael Coote thinks Donald Trump wants to flex his muscles by humiliatingly screwing over other countries