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Abacus Property Group Completes Institutional Placement

18 Mar 2022  |  09:40:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Abacus Successfully Completes Institutional Placement

Abacus Property Group announced the successful completion of the fully underwritten institutional placement (Placement) announced on 17 March 2022. The Placement raised $200m through the issue of 59.2m new stapled securities at an offer price of $3.38 per Company stapled security (Issue Price). Proceeds from the Placement will be used to replenish investment capacity for continued deployment into acquisitions yet to settle and into the identified development and expansion pipeline in its Self Storage portfolio.

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