Brief: ESR Group Says Received CSRC Approval For Public Logistics REIT In China

ESR

24/06/2024 08:55

June 24 (Reuters) - ESR Group Ltd  1821.HK :
    * RECEIVES CSRC APPROVAL FOR ITS PUBLIC LOGISTICS REIT IN
CHINA
    * APPLICATION FOR REGISTRATION AND LISTING OF ESR CHINA REIT
APPROVED BY CSRC
    * ESR C-REIT EXPECTED TO RAISE AROUND RMB2.438 BILLION
    * ESR WILL SUBSCRIBE TO 34% STAKE OF C-REIT IPO, AND
REMAINING 66%
WILL BE SUBSCRIBED BY CORNERSTONE INVESTORS, AMONG OTHERS
    * STARTING FROM 2024, ANNUALISED CASH DISTRIBUTION RATE
EXPECTED
TO BE 4.5%  AND 4.62% FOR 2024 AND 2025 RESPECTIVELY

Further company coverage:  1821.HK 

 ((Reuters.Briefs@thomsonreuters.com;))