ESR Group, which is the sponsor of several Singapore-listed REITs including ESR-LOGOS REIT (E-LOG) and Sabana Industrial REIT, announced the proposed spin-off and separate listing of its logistics assets through a publicly offered infrastructure securities investment fund or C-REIT on the Shanghai Stock Exchange on Dec 13, 2022.
The assets are: Jiangsu Friend – I, Jiangsu Friend – II and Jiangsu Friend – III, which are three high-standard logistics projects in Kunshan, Jiangsu Province. The assets are currently wholly-owned by ESR Group through Jiangsu Friend Warehouse Co., Ltd.
On March 6, 2023, ESR Group said that it received confirmation from the Stock Exchange of Hong Kong that it may proceed with its proposed transaction.
Shares in ESR Group closed 8 HK cents higher or 0.75% up at HK$10.80 ($1.88) on June 21.
