Business
Abacus Property Group taps Macquarie for $402m rights issue – The Australian Financial Review
Abacus Property Group is in the market with a $402 million equity raising to restock its acquisition warchest.
Calculator Australia Trust, which has a 53 per cent stake in Abacus and is part of The Kirsh Group, committed to take up its portion of the rights issue, and sub underwrite another $49 million worth of the retail offer.
The deal comes after Abacus acquired full control of the Storage King self storage platform in November.
It also comes in what is likely to be the final week for Australian rights issues, with companies and underwriters typically reluctant to have large retail offers open during…
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