- Real estate investment company Abacus Property Group (ABP) is aiming to raise $402 million to repay debt and for future acquisitions
- The company is aiming to raise the money through a non-renounceable pro-rata entitlement offer
- Eligible shareholders are invited to subscribe to one new share for every 4.8 existing shares held
- Under the raise, the real estate investment company is expecting to issue around 138.7 million shares
- Once the raise is complete, Abacus is expecting to have $911 million available for future purchases
- Abacus entered a trading halt this morning and shares last traded for $3.10 on December 7
Abacus Property Group: Raises $402M to strengthen balance sheet
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