By Scott Murdoch
SYDNEY (Reuters) – Australian property and logistics company Goodman Group said on Wednesday it was raising A$4 billion ($2.54 billion) in a share placement to fund its data centre business growth plans.
The Sydney-headquartered firm will issue 119.42 million shares at A$33.5 each, it said in a regulatory filing.
The price is a 6.9% discount to Goodman’s closing price on Tuesday of A$35.98.
Goodman’s shares are trading about 1% higher year to date and the company said the money raised would help fund its data centre and logistics operations future expansion plans. Goodman said some of the money would also be used to reduce its debt levels.
($1 = 1.5743 Australian dollars)
(Reporting by Scott Murdoch; Editing by Chris Reese)
