Goodman Group (ASX:GMG) has successfully completed a $400 million institutional placement aimed at funding long term growth opportunities.
The placement comprised 94.1 million securities at a fixed price of $4.25 per security.
CEO Greg Goodman says the placement will underpin further expansion of Goodman’s global operating platform and delivery of sustainable share earnings growth.
The property investor says the placement will settle next Wednesday the 14th of November .
In addition to the placement, Goodman intends to offer its Australian and New Zealand shareholders a further subscription opportunity for up to $13,000 worth of securities.
Goodman group achieved a net profit of $450.5 million for fiscal 2012.
GMG Price at posting:
$4.38 Sentiment: None Disclosure: Held
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