Goodman, founded in 1989, owns, develops and manages commercial and industrial real estate, including warehouses, large scale logistics facilities, and business parks throughout the world.

The latest share placement saw the creation 119.4 million new shares, about 6.2% of the shares on issue, priced at A$33.50 per share, a 6.9% discount to Goodman’s closing price of A$35.98 on 18 February 2025.

However, the discounted price for new institutional shareholders will be offset to a very small extent by missing the half year dividend of 15 cents per share in June.

"They will not be entitled to the half year distribution because the record date for that distribution has passed," Goodman stated in its announcement to the market.

The funds generated by the capital raising will be used to drive growth in the company, particularly in the area of data centres.

“We’re very pleased with the strong support we’ve received from both existing and new institutional investors for this placement," Goodman Founder and Group Chief Executive Officer, Greg Goodman said.

"It highlights continued confidence in Goodman’s established strategy of providing essential infrastructure for the digital economy.

"The funds raised will enable us to optimise the opportunities we’re creating over the long term, particularly through our data centre offering, and provide greater financial and operational flexibility to manage the next phase of growth.”

Settlement of the new placement shares is expected to occur this coming Monday, 24 February 2025, with allotment and normal trading occurring on Tuesday, 25 February 2025.

Goodman has also announced it will issue a Security Purchase Plan (SPP), a form of capital raising that offers existing shareholders the opportunity to apply for new shares, which will be released to the ASX and made available to eligible shareholders in Australia and New Zealand on 27 February 2025.