What are MM’s thoughts on ABP’s SPP?

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Question asked 26/03/2022

What are MM’s thoughts on ABP’s SPP?

Hi James and Team, I appreciate that MM prefers NSR in this space but please can you provide your thoughts on ABP's SPP. Thanks, JanP

Answer

Hi Jan,

ABP are raising $215mn at $3.38, a 5.1% discount at the time it was announced to the market, the funds are to restock the real estate group’s war chest for developments, acquisitions etc. We believe this is fair to good buying at current levels with the stock supported by an est. 5.3% yield over the next 12-months.

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Abacus Property (ABP)

LAST UPDATED 25/03/2022 17:39

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