by Megan Stals
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How to buy Abacus Storage King (ASK) Shares

A new self storage opportunity has come to the ASX, with Storage King establishing its own space under a separate ticker from Abacus Property Group.

Want to start buying ASK shares but not sure how? Follow the steps below to invest in Abacus Storage King on the ASX.

1. Find a stock trading platform

To buy shares listed in Australia, you'll need to sign up with an investment platform that has access to the ASX. There are a number of share trading platforms in Australia, of which Stake is one.

2. Fund your account

Complete an application with your personal and financial details. Fund your investment account with a bank transfer, debit card or even Apple/Google pay.

3. Search for Abacus Storage King ($ASK)

Find the share by company name or ticker symbol: $ASK. Do your own research to ensure it is the right investment product for your own circumstances. Consider seeking financial, legal and taxation advice before investing.

4. Choose an order type and buy ASK stock

Buy on any trading day with a market order or use a limit order to delay your purchase of ASK shares until it reaches your desired stock price. Look into dollar cost averaging to consider spreading out your risk, which smooths out buying at consistent intervals.

5. Monitor your investment

Optimise your portfolio by tracking how your stock and the business perform. You may be eligible for dividends and shareholder voting rights that affect your stock.

Abacus Storage King overview

Self storage firm Storage King has gained its own ASX ticker with $ASK after being unbundled from Abacus Property Group ($ABP). Funds from the IPO are expected to go towards paying down debts and growing their property portfolio. 

Abacus first acquired 25% of Storage King in 2018, another half in 2020 and the remaining quarter in 2021. The Real Estate Investment Trust (REIT) operated as a stapled security, a setup that allows separate legal entities to trade together on the ASX. 

These arrangements often provide investors with exposure to both a real estate portfolio and funds management or property development company. Abacus will still manage Storage King and retain a strategic stake of up to 19.9% in the business. This means that the latter could be affected by the financial position of Abacus. 

Storage King offers various types of solutions for individuals and businesses that need a safe space to keep their belongings or supplies. The firm provides packing materials, including selling boxes, and removalist services across Australia and New Zealand. 

The spaces are usually rented on a monthly basis and there’s an option to add insurance. The self storage sector currently has relatively strong demand and high occupancy rates, but these metrics are of course subject to change. Storage King also plays a role in last-mile logistics for businesses. 

Increasing property prices have resulted in some people downsizing their main residence and finding storage at separate locations. This contrasts with the concerns about office values in the commercial property sector, as they decline while the working from home trend persists. 

Storage King is expected to be the second largest listed player in the area, behind National Storage REIT ($NSR). They’re operating in a small segment of the property sector and their performances could differ from overall the market. Only time will tell whether current growth can continue. 

Abacus Storage King (ASK) IPO details

Abacus Storage King has filed its prospectus with the Australian Securities and Investments Commission (ASIC) in order to be listed on the ASX using the ticker symbol ASK. Read more in the Abacus Storage King transaction booklet.

Proposed ASX code

ASK

Offer price

$1.41

Total number of shares available under the offer

159,600,000

Funds raised for IPO

$225m

ASX listing date

01.08.2023

You can take a look at the top shareholders in ASK in this document.

If you're considering investing in the Abacus Storage King listing or other upcoming IPOs, sign up today.

This does not constitute financial advice nor a recommendation to invest in the securities listed. The information presented is intended to be of a factual nature only. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking financial, legal and taxation advice before investing.


Portrait photo of Megan Stals, Market Analyst at Stake.

Megan Stals

Market Analyst

Megan is a markets analyst at Stake, with 7 years of experience in the world of investing and a Master’s degree in Business and Economics from The University of Sydney Business School. Megan has extensive knowledge of the UK markets, working as an analyst at ARCH Emerging Markets - a UK investment advisory platform focused on private equity. Previously she also worked as an analyst at Australian robo advisor Stockspot, where she researched ASX listed equities and helped construct the company's portfolios.


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