Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

GMT Placement Fully Subscribed

Media Release

14 November, 2007

GMT Placement Fully Subscribed

Goodman Property Trust (“GMT”) has received strong support from local and offshore investors in the institutional bookbuild which closed this morning with the application price set at $1.43 per unit.

The bookbuild incorporated an institutional placement and institutional entitlement offer of over 160 million units raising approximately $229.0 million. The bookbuild was fully subscribed with ASX Listed Goodman Group subscribing for its pro-rata share to retain its cornerstone holding in GMT at 28.14%. The underwrite by Macquarie Bank and UBS, and sub-underwrite of up to $80 million offered by Goodman Group was not utilised for this component of the offer.

The allotment of new units is subject to Unitholder approval at a meeting scheduled to be held on 30 November 2007.

John Dakin, Chief Executive Officer Goodman (NZ) Limited commented, “We’ve had a fantastic endorsement from the investment community raising $229 million in the first stage of a $275 million equity raising. There is real confidence in our business and the strategic direction we have taken with the proposed investment in Highbrook Development Limited.”

A retail entitlement offer and a public offer, at the application price of $1.43 will now be made. An investment statement and prospectus for the retail entitlement offer and public offer will be sent to Unitholders, and will be available to the investing public, on or about 20 November 2007 with a closing date of 14 December 2007.

ENDS

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.