April 7 (Reuters) - Shares of Australia's Abacus Storage

King ( ABSKF ) soared to a nearly six-month high after it

received an unsolicited takeover offer from a consortium,

valuing the firm at A$1.93 billion ($1.16 billion).

The stock jumped more than 15%, its biggest ever intraday

percentage gain, to A$1.335 per share value.

The consortium of furniture manufacturer Ki Corporation and

Public Storage ( PSA ) has offered A$1.47 per stapled

security to Abacus shareholders for all shares not currently

held by Ki and its subsidiaries.

The offer represents a 26.7% premium to Abacus' closing

share price on Friday.

Ki currently has an indirect and direct interest of nearly

60% in Abacus, which owns and operates self-storage facilities

across New Zealand and Australia.

The company comprises Abacus Storage Operations and

Abacus Property Trust.

U.S.-based real estate investment trust Public Storage ( PSA ) will

hold about 50% of Abacus securities after the deal, while Ki

will hold the rest.

The companies are offering "certainty, liquidity, and an

attractive premium to minority securityholders" among other

benefits to Abacus's employees, customers and additional

stakeholders, Public Storage ( PSA ) said.

"The entry of PSA into the Australian market may increase

competitiveness in the sub-sector with potential increased

capital for expansion and development," Citi analysts said.

In 2020, Public Storage ( PSA ) attempted to enter the Australian

market through a $1.25 billion bid for National Storage REIT ( NTSGF )

. However, it was forced to abandon the takeover pursuit

because of market conditions caused by the coronavirus outbreak.

Meanwhile, Abacus Storage King ( ABSKF ) has formed an independent

board committee and commenced an assessment of the proposal.

Abacus Group, a nearly 20% interest holder and the manager

of Abacus Storage King ( ABSKF ), said it is separately considering the

proposal.

($1 = 1.6694 Australian dollars)