Goodman Group SPP
Hi MM team Just wondering what your thoughts are on the Goodman group SPP offer. I know you can't give specific financial advice but generally speaking is it worth taking up? Thanks
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Answer
Hi Anne,
GMG raised $4bn via an institutional placement at an issue price of $33.50 per new security which represented a 6.9% discount to Goodman’s closing price of $35.98 on Tuesday, 18 February 2025. The raise was significantly over subscribed from our understanding.
- The company is now looking to raise a further $400 million from retail shareholders through a share purchase plan (SPP) at the same price, $33.50, issued on March 20th with a maximum parcel of $30,000.
However, with GMG trading at $31.31 on Friday, it makes more sense to buy on market. We are looking to add to our position in our Active Growth Portfolio if we see further weakness toward $30.
