Goodman share price dips then lifts amid capital raise falling flat

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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…

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