Further to the announcement of 18 September 2019, Goodman (NZ) Limited the Manager of Goodman Property Trust is pleased to announce the Retail Unit Offer is now open.
Open to Eligible Unitholders in New Zealand, participating investors can purchase up to $50,000 of additional units in GMT without incurring brokerage or other transaction costs. The offer is targeting $15 million of additional equity, with the ability to accept oversubscriptions of up to $10 million at the Manager’s discretion.
The issue price of $2.10 per New Unit is the same as the Placement undertaken on 18 September 2019.
Details of the offer are being mailed to Unitholders today. The closing date for applications is 18 October 2019. The New Units are expected to be allotted on or around 24 October 2019.
About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $3.0 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 value of $2.8 billion. The Trust holds an investment grade credit rating of BBB from Standard & Poor’s.