Goodman Property scales unit plan
Tue, 08 Jan 2013 1:41p.m.
Goodman Property Trust, the second-biggest property investor on the NZX, has scaled its unit purchase plan after oversubscriptions top out.
The Auckland-based property investor has scaled applications to 77.95 percent after receiving $38.5m of bids in the offer to unit holders, some $8.5m above its limit, the company said in a statement.
The UPP was originally seeking to raise $20m at $1 per unit as part of an $80m capital raising to partially fund its buy-out of Auckland's half-developed Highbrook Business Park.
Last year, Goodman Property raised the first $60m from institutional investors in a private placement, meaning it raised a total of $90m of new equity after the oversubscription.
The $186.6m acquisition of the 100 hectare property in East Tamaki got investor approval last month after a special meeting.
Post a Comment
Before commenting, please take the time to read our moderation guide
(Won't be published)
A high speed test has been launched in Moana, in the Lake Br...
Auckland, our biggest city, is forecast to grow by up to ano...
The Whakatane Beacon has joined the Ashburton Guardian and t...
The Govt says it's hypocritical of the Greens to criticise t...
The International Monetary Fund has called on Britain to do ...
Copyright © 2013 MediaWorks TV. All Rights Reserved.