Goodman Group Secures A$4 Billion for Data Center Expansion
Australian property giant Goodman Group has announced a A$4 billion ($2.54 billion) share placement to support the growth of its data center business.
Through a regulatory filing, the Sydney-based firm revealed plans to issue 119.42 million shares at A$33.5 each. This represents a 6.9% discount compared to Goodman's closing share price of A$35.98 on Tuesday.
Despite the discount, Goodman's shares have witnessed a modest 1% increase year-to-date. The company intends to allocate the raised funds primarily towards the expansion of its data center and logistics operations.
Additionally, a portion of the capital will be utilized to reduce Goodman's existing debt levels.