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
- Kiwi migration at lowest level in 30 years
- Spark-Netflix deal could backfire: lawyer
- Minter Ellison invests $2m in artificial intelligence technology to replace lawyers
- Veritas shares rise on profitable half-year, debt plan before bank
- Employers back PM's comments on drugs stopping young people from getting jobs
Most listened to
- AWF Madison chief executive Simon Bennett says young Kiwis not being able to pass a drug test is “reasonably significant.”
- Scales boss Andy Bowland explains why the board lifted annual guidance again
- Join OMF's Phillip Lindberg and NBR's Andrew Patterson for Currency Talk
- Otago University Professor Andrew Geddis on how election campaigns will change
- Hamilton Hindin Greene's Jeremy Sullivan on why Spark did a deal with Netflix