Shaw and Partners appointed as Joint Lead Manager to the capital raising by Abacus Property Group News23 Jul 2019

Shaw and Partners has been appointed as Joint Lead Manager to a capital raising by Abacus Property Group (ASX.ABP) alongside Macquarie Group.


The offer is a fully underwritten placement (by both Macquarie and Shaw and Partners) of approximately 63.3 million new stapled securities, at an issue price of $3.95 per stapled security to raise $250 million.


The issue price represents a 7.5% discount to last close price of A$4.27 on 23 July 2019 and a 6.0% discount to 5-day VWAP of $4.20 to 23 July 2019.


The proceeds will initially be used to repay debt and provide balance sheet flexibility to pursue a number of potential value-accretive identified opportunities in excess of $710 million in FY20 in line with Abacus' strategic priorities:


  • Australian Unity Office Fund
  • Self Storage acquisition and development pipeline
  • Church Street development JV with Salta Properties
  • Sydney CBD Office acquisition of a minority interest


Abacus Property Group is a leading diversified property group that invests in real estate opportunities to deliver enhanced returns. Abacus was established in 1996 and listed on the ASX in 2002. Abacus has a market capitalisation of $2.2 billion.


The offer is available to Australian resident Sophisticated and Professional Investor clients only.


For more information please contact your Shaw and Partners Adviser

Related Articles
News04 Aug 2020 Strandline Resources readies placement; Shaw and Partners on ticket.
Mineral sands explorer Strandline Resources was expected to press go on a capital raising on Tuesday morning.   Street Talk understands the $105 million company – which has proje... Read More
News30 Jul 2020 Adore Beauty hires banks for $600m-plus sharemarket float
Adore Beauty has chosen investment banks Morgan Stanley and UBS to spearhead its run at the ASX boards, and tapped Shaw and Partners as a co-lead manager.   As Street Talk reveal... Read More
News28 Jul 2020 E-commerce meets buy now, pay later in $200m IPO hopeful Zebit
ASX-aspirant Zebit will look to harness the momentum that's built behind e-commerce and buy now, pay later stocks through the pandemic, when it starts its run at the local bourse i... Read More
News27 Jul 2020 Shaw and Partners welcomes Garry Giblett and Brent Becroft to our office in Perth
Shaw and Partners is delighted to welcome Senior Investment Advisers Garry Giblett and Brent Becroft to our office in Perth.   Both Garry and Brent join Shaw and Partners Limited... Read More
A - Z  % Change  
{{data.Symbol}} {{data.CompanyName}} {{data.Close}} {{data.AsAt | date :'shortTime'}} {{data.Movement | number : 2}} {{data.MovementPercent | number: 2}}%