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Singapore Exchange (SGX) today welcomed EC World REIT to Mainboard under the stock code “BWCU”.
EC World REIT is the first Chinese specialised logistics and e-commerce logistics REIT to be listed on SGX. With an initial geographical focus on the People’s Republic of China (“PRC”), the REIT invests in a diversified portfolio of income-producing real estate primarily used for e-commerce, supply-chain management and logistics purposes.
Peter Lai Hock Meng, Chief Executive Officer of EC World Asset Management Pte. Ltd., the Manager of EC World REIT, said, “We are pleased to celebrate EC World REIT’s successful listing and trading today and we would like to extend our sincere appreciation to all investors for making this milestone possible. Our IPO portfolio of six quality properties offers investors unique exposure to the logistics and e-commerce sectors in Hangzhou - one of the largest e-commerce hubs in China. With the support of our established Sponsor – Forchn Holdings Group Co., Ltd, we believe that EC World REIT shall have potential opportunities for growth through strategic acquisitions. We will maintain a strong focus on providing stable and growing distributions to generate value for our unitholders.”
Simon Lim, Head of Equity Capital Market (Sectors), SGX, said, “We are pleased to welcome EC World REIT, providing investors exposure to the growing Chinese logistics and e-commerce infrastructure market. The global e-commerce industry is growing at burgeoning pace, and we are delighted to have this sector represented in our comprehensive suite of REIT offering. ”
The listing of EC World REIT will bring the total number of SGX-listed REITs and property trusts to 42, with a combined market capitalisation of about S$70 billion.
EC World REIT opened at $0.81 today.
