ESR Group receives no objection letter from Shanghai Stock Exchange for logistics REIT spin-off

The CSRC has also approved the registration of the REIT.

ESR Group has received a no objection letter from the Shanghai Stock Exchange, advancing its plan to spin off its logistics assets into a real estate investment trust (REIT).

The move aims to create a publicly offered infrastructure securities investment fund, as outlined in announcements dating back to December 2022.

Additionally, the China Securities Regulatory Commission (CSRC) has approved the registration of the REIT.

Upon completion of the spin-off, ESR Group's ownership in the project company will reduce significantly from 100% to 34%, leading to the deconsolidation of the project company from the group’s consolidated financial statements. 

Based on current information, the asset disposal is expected to meet the criteria of a discloseable transaction under Chapter 14 of the Listing Rules, with the applicable percentage ratio falling between 5% and 25%.