Sydney based property group Abacus is seeking a further $20 million from security holders.
In February, the group successfully undertook a $70 million institutional placement.
Abacus said all eligible security holders will be able to apply for up to 3500 new stapled securities in the group at a purchase price of $1.41, which is the same price as that offered to institutional investors in February 2006.
No brokerage or other transaction costs apply and the offer is non-renounceable.
Abacus said the securities will rank equally with existing Abacus Property Group securities, including participation in distributions, from 1 July 2006.
The group has the right to accept over-subscriptions if applications for more than $20 million are received.
Abacus closed yesterday down one cent at $1.46.
By Adam Parsons
