Goodman Group (ASX:GMG) said its security purchase plan offer is open for eligible security holders on the record date of Feb. 18 to raise up to AU$400 million, according to a Thursday Australian bourse filing.

The offer is not underwritten and is expected to close on March 13.

The issue price for Goodman securities under the offer is AU$33.5 per new security.

Securityholders are eligible to apply for a parcel of new securities, subject to a minimum application amount of AU$2,500, up to an aggregate of AU$30,000 across all their holdings.

The plan follows the completion of a AU$4 billion institutional placement.