Australia's Goodman Group raising $2.54 billion to fund data centre growth (updated)

Goodman

18/02/2025 21:33

(Adds detail from second paragraph)
    By Scott Murdoch
       SYDNEY, Feb 19 (Reuters) - Australian property and
logistics company Goodman Group  GMG.AX  said on Wednesday it
was raising A$4 billion ($2.54 billion) in a share placement to
fund its data centre business growth plans.
    The Sydney-headquartered firm will issue 119.42 million
shares at A$33.5 each, it said in a regulatory filing.
        The price is a 6.9% discount to Goodman's closing price
on Tuesday of A$35.98.
  
        Goodman's shares are trading about 1% higher year to
date and the company said the money raised would help fund its
data centre and logistics operations future expansion plans.
Goodman said some of the money would also be used to reduce its
debt levels.
  

($1 = 1.5743 Australian dollars)

 (Reporting by Scott Murdoch; Editing by Chris Reese)
 ((Scott.Murdoch@thomsonreuters.com;))