ESR Group to list its logistics firm REIT in China

25 Jun 2024 CW Team

The Chinese securities authority has approved the real estate asset management ESR Group to list its logistics real estate company there. The company anticipates raising around $336.02 million from the offering. The Hong Kong-based company proposed in December 2022 to spin off and separately list its logistics assets through a publicly offered infrastructure securities investment fund, or C-REIT, on the Shanghai Stock Exchange. The company has sponsored several REITs that are listed in Singapore, such as ESR-LOGOS REIT and Sabana Industrial REIT. According to the statement, Kunshan, Jiangsu Province, China, is home to three logistics facilities that are now held by the ESR C-REIT. The three assets will be managed by ESR's subsidiary, Shanghai Yizhishang Enterprise Management Services Co., after the IPO of ESR C-REIT. Stuart Gibson, co-founder and co-CEO of ESR Group, expressed confidence that the portfolio would establish a strong foundation for the continued growth of the C-REIT. He mentioned that it would also create more opportunities for collaboration with onshore financial institutions and investors in China. The company indicated that, while the final offer price of the REIT offering had not been disclosed, the projected annualised cash distribution rate by the REIT was 4.5% for 2024 and 4.62% for 2025. ESR disclosed that it would subscribe to a 34% stake in the C-REIT IPO, with cornerstone investors, public institutions, and retail investors subscribing for the remaining 66%.

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..