Goodman Group, the Australian property and logistics giant, is raising $4 billion through a share placement to accelerate the expansion of its data centre business.
In a regulatory filing, the Sydney-based company announced the issuance of 119.42 million shares at $33.50 each, representing a 6.9% discount to its last closing price of $35.98. This marks Australia’s largest capital raising since CSL’s $6.3 billion placement in December 2021, according to Dealogic data.
Additionally, the fundraising effort includes a $400 million security purchase plan for existing investors. The capital will support Goodman’s ongoing data centre and logistics expansion while also helping to reduce debt.
“Surging demand for data centres has significantly accelerated our business growth, driven by increased cloud adoption, data migration, AI, and machine learning,” CEO Greg Goodman stated during an investor call.
The company posted an operating profit of $1.22 billion for the first half of the fiscal year, reflecting an 8% increase from the same period last year.
Currently operating five gigawatts of data centres across 13 cities, Goodman plans to add another 0.5 gigawatts by June next year. The new developments, valued at $10 billion, will span key global hubs, including Sydney, Melbourne, Los Angeles, Tokyo, Paris, Amsterdam, and Hong Kong.
Related topics:
Iraqi Central Bank’s Dollar Sales Exceed $290 Million in Latest Auction
Does Scalping Work in Crypto Futures?
