ESR-LOGOS REIT - Maybank Research 2023-02-17: Bolstering The Balance Sheet

ESR-LOGOS REIT - Bolstering The Balance Sheet

  • ESR-LOGOS REIT (SGX:J91U) is raising S$300m through a share offering, with S$150m via a preferential offering and S$150m via private placement. Shares will be issued at a 6% discount to VWAP (volume weight average price) of S$0.3502 per share, expanding the share base by 13% (additional ~916m shares). Sponsor assets are available for acquisition in Singapore and Japan.
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What’s next for ESR-LOGOS REIT?

  • Management will channel S$293m (~98%) of the EFR (equity fund raising) gross proceeds to potential acquisitions and redevelopment or AEIs, with the remainder to cover related expenses. ESR-LOGOS REIT has three ongoing AEIs, and one cold storage redevelopment project under discussion.
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  • ESR-LOGOS REIT's sponsor ESR Group completed development of two assets in Singapore (Tuas Logistics Hub and Logos Penjuru Logistics Centre in Singapore) and two in Japan last year.

De-risking the balance sheet

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Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @

Li Jialin Maybank Research | 2023-02-17

Previous report by Maybank:
2023-02-10 ESR-LOGOS REIT - Recycling & Growth.

Price targets by 4 other brokers at ESR-LOGOS REIT Target Prices.
Listing of research reports at ESR-LOGOS REIT Analyst Reports.

Relevant links:
ESR-LOGOS REIT Share Price History,
ESR-LOGOS REIT Announcements,
ESR-LOGOS REIT Dividends & Corporate Actions,
ESR-LOGOS REIT News Articles

SGX Stock / REIT Search


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