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.”
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