King & Wood Mallesons (KWM) is acting for Abacus Property Group in relation to its accelerated non-renounceable entitlement offer to raise approximately $400 million.
Abacus Property Group is a diversified Australian REIT with an investment portfolio concentrated in the Self-Storage and Office sectors.
The KWM team advising Abacus Property Group on the transaction was led by Corporate M&A/ECM partners David Eliakim and Henrik Moritz and supported by Special Counsel Amanda Isouard, Senior Associate Rahul Mukherjee and Solicitors Anthony Farag, Angus Moore and Felicity Bell.
Commenting on the transaction, David Eliakim said: "We are grateful for the opportunity Abacus has given us to work with them on this capital raising. Abacus has an impressive board and senior management team and are clearly well placed to invest capital in accretive real estate opportunities to maximise securityholder value."
KWM has acted on the majority of the top 10 largest secondary capital raisings in 2020 since the COVID-19 crisis. The cumulative total of funds raised under the firm's guidance since 22 March 2020 is approximately $20.4 billion, being approximately half of all secondary capital raisings during that time by deal value. This large market share continues KWM's ongoing success in the ECM space. The KWM ECM team has worked on both of the largest placements and the largest ever entitlement offer in Australian corporate history. KWM has also advised on a significant number of the $1 billion-plus secondary capital raisings in Australian corporate history.