ESR applies to list logistics REIT on the Shanghai Stock Exchange

The REIT will handle three projects in Kunshan, Jiangsu Province.

ESR has submitted its application to list its three high-standard logistics projects through a REIT on the Shanghai Stock Exchange (SSE).

The three projects are in Kunshan, Jiangsu Province.

In a bourse filing in Hong Kong, ESR said it also applied for and has been granted a waiver from strict compliance with the requirement of having "due regard to the interests of its existing shareholders by providing them with an assured entitlement to shares in the spun-off entity, either by way of a distribution in specie of existing shares in the spun-off entity or by way of preferred application in any offering of existing or new shares in the spun-off entity."

The company said it is not feasible for them to comply with the requirements given "PRC legal impediments."