ESR Kendall Square REITs, Public Subscription Competition Rate 3.36 to 1... Listed on KOSPI Market on the 23rd

The Nation's First Logistics-Focused REIT to Enter KOSPI Market on the 23rd

[Asia Economy Reporter Eunmo Koo] ESR Kendal Square REITs, Korea's first logistics-specialized REITs (Real Estate Investment Trust), announced on the 9th that it recorded a subscription competition rate of 3.36 to 1 in its public offering.

ESR Kendal Square REITs conducted a public subscription for general investors from the 4th to the 8th. Approximately 59.97 million shares were applied for 17.86 million shares offered, resulting in a competition rate of 3.36 to 1, with subscription deposits totaling about 149.9 billion KRW. ESR Kendal Square REITs is scheduled to be listed on the KOSPI market on the 23rd. The lead underwriters are Korea Investment & Securities, Citigroup Global Markets Securities, and Morgan Stanley International.

Earlier, the demand forecast conducted for institutional investors saw participation from a total of 106 institutional investors, showing a competition rate of 8.75 to 1. Among domestic institutional investors, 95% committed to lock-up agreements, and overseas institutional investors accounted for 40% of the total.

ESR Kendal Square REITs is a REIT based on logistics centers as underlying assets. The assets, including the planned Anseong logistics center, amount to a total scale of 1.4 trillion KRW, with 11 logistics centers located in key logistics hubs centered around the Seoul metropolitan area.