Why is the Goodman share price crashing 7% today?
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The Goodman Group (ASX: GMG) share price has returned from its trading halt and dropped deep into the red on Thursday.
In morning trade, the industrial property giant’s shares are down over 7% to $33.29.
Why is the Goodman share price sinking today?
Goodman’s shares are under pressure today after the company announced the completion of a major capital raising.
According to the release, the company has successfully raised $4 billion through a fully underwritten institutional placement.
These funds were raised through the issue of approximately 119.4 million new shares at $33.50 per share.
This represents a 6.9% discount to where the Goodman share price was before its trading halt.
The company will now seek to…
