Announcement
OFFER: GMT: GMT $150 million Placement Fully Subscribed
08:33am
GMT
19/09/2019 08:31
OFFER
PRICE SENSITIVE
REL: 0831 HRS Goodman Property Trust (NS)
OFFER: GMT: GMT $150 million Placement Fully Subscribed
Goodman (NZ) Limited, the Manager of Goodman Property Trust ("GMT"), is
pleased to announce that the underwritten placement ("Placement"), undertaken
yesterday, received strong support from local and offshore investors.
The $150 million equity raising was fully subscribed at the fixed price of
$2.10 per unit. Allotment of the new units is expected to occur on 24
September 2019.
Chief Executive Officer of Goodman (NZ) Limited, John Dakin said, "Our
institutional investors have shown strong support. The offer was fully
subscribed, and the issue price represents a 4.3% discount to Tuesday's
closing price. Investors recognise the benefits of an investment strategy
focused on the Auckland industrial market and we look forward to extending
the offer to our retail investors".
The Retail Offer, to eligible New Zealand resident Unitholders, is seeking to
raise $15 million of new equity, with the ability to accept up to $10 million
in oversubscriptions at the Manager's discretion. It is expected to open on
26 September 2019 and close on 18 October 2019.
For further information please contact:
John Dakin
Chief Executive Officer
Goodman (NZ) Limited
(021) 321 541
James Spence
Director Investment Management
Goodman (NZ) Limited
(021) 538 934
Andy Eakin
Chief Financial Officer
Goodman (NZ) Limited
(021) 305 316
About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market
capitalisation of around $2.8 billion, ranking it in the top 20 of all listed
investment vehicles. The Manager of the Trust is a subsidiary of the ASX
listed Goodman Group, Goodman Group is also the Trust's largest investor with
a cornerstone unitholding of 22%.
GMT is New Zealand's leading industrial space provider. It has a substantial
property portfolio, with a current value of $2.8 billion. The Trust holds an
investment grade credit rating of BBB from Standard & Poor's.
This release is not a prospectus or offering document under New Zealand law
or under any other law.
It is for information purposes only and does not constitute an offer,
invitation or recommendation to subscribe for, retain or purchase any
securities in GMT in any jurisdiction. This release does not constitute
financial product advice or investment advice and does not and will not form
part of any contract for the acquisition of GMT securities.
This release has been prepared for release in New Zealand. This release does
not constitute an offer to sell, or the solicitation of an offer to buy, any
GMT securities in the United States or in any jurisdiction in which such an
offer would be illegal. None of the securities offered and sold in the
Placement and the Retail Offer have been, or will be, registered under the
U.S. Securities Act of 1933 ("U.S. Securities Act"), or under the securities
laws of any state or other jurisdiction of the United States. The securities
to be offered and sold in the Retail Offer may not be offered or sold,
directly or indirectly, in the United States.
End CA:00341182 For:GMT Type:OFFER Time:2019-09-19 08:33:00
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