Goodman property group raises $1.3b in funds

Goodman property group raises $1.3b in funds

Property group Goodman Group has secured $1.3 billion in equity funding via an entitlement offer.

The institutional component of the offer raised around $923 million, while the just-concluded retail entitlement offer raised $282 million.

Goodman said it had received application for around 80% of the new securities on offer during the retail portion, but subsequent applications have caused the offer to be oversubscribed. Goodman will offer refunds for the oversubscribed portions.

“We have been delighted with the strong level of support we have received for the retail entitlement offer,” CEO Greg Goodman said.

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