ESR-REIT

With its entry, ARA LOGOS has been delisted from the bourse.

The redevelopment is expected to be finished in two years.

The merger will be done by way of a trust scheme arrangement.

More than 1.2 billion voting shares decided the fate of the two companies.

The appointment will be official should the merger of ESR-REIT and ALOG push through.

The meeting will be held on 21 March 2022. 

The amount available for distribution also increased 15.4% YoY to $114.4m.

The revised offer will increase ALOG’s DPU accreditation to 12.8%.

The increase represented increased considerations of 2.1% in cash and 5.8% in shares.

The proceeds will go to repayments, asset enhancements, acquisitions, buy-backs.

This is a step towards ESR’s 2025 ESG roadmap.

Core DPU also grew by 1.7% y-o-y.

The bank said the merger is crucial in the REIT sector.

ARA LOGOS is currently on the 13th spot.

The merger will create a flagship pan-Asia logistics and high-tech S-REIT.

DBS, Singtel, and OCBC are the most traded stocks for the first eight months of the year.