Goodman share price dips then lifts amid capital raise falling flat
Image source: Getty Images
The Goodman Group (ASX: GMG) share price fell 1% to an intraday low of $31.27 on Friday.
This followed 152,057 new shares issued through the recent Share Purchase Plan (SPP) commencing trading today.
The Goodman share price has since recovered and is currently $31.68 per share, up 0.28%.
This week we learned that the property giant managed to raise only $5.1 million in the $400 million SPP offered to retail investors.
Let’s find out why.
Retail investors resoundly reject Goodman’s offer
The SPP was offered to ordinary investors alongside a $4 billion institutional placement, both of which were announced on 19 February.
Both had an offer price of $33.50. That looked pretty good at the time, given it…
