Koramco Energy Plus REITs Confirmed for KOSPI Market Listing in August

[Asia Economy Reporter Eunmo Koo] Koramco Energy Plus REIT has confirmed its listing on the KOSPI market next month.

Koramco Energy Plus REIT announced on the 10th that the effectiveness of its securities registration statement has taken effect, confirming its listing on the KOSPI market in August. Koramco Energy Plus REIT is Korea's first gas station-based REIT managed by Koramco Asset Trust, operating 187 directly managed gas stations nationwide acquired from SK Networks as its underlying assets, aiming to provide investors with dividends in the mid-6% range annually based on the public offering price.

To ensure smooth operation of the gas stations, Koramco Energy Plus REIT secured a stable revenue structure by signing a long-term lease agreement of at least 10 years with Hyundai Oilbank, the second largest market share holder in Korea, as the tenant. Additionally, to diversify income, it attracted additional tenants such as vehicle repair shops, convenience stores, and drive-thru restaurants besides the main tenant Hyundai Oilbank, securing supplementary revenue.

For continuous business expansion, Koramco Energy Plus REIT plans to designate key gas station sites as a "Mobility Retail Platform," increasing utilization by integrating gas stations, offices, retail, and regional logistics hubs to generate various additional revenues. The structure allows for additional dividends beyond the target dividend when extra profits arise from expanding supplementary income, individual gas station development, or asset sales.

Koramco Asset Trust, which will manage Koramco Energy Plus REIT, is a real estate finance specialist company that has maintained the number one position in Korea's private REIT sector for 19 years, having established and operated a total of 49 REITs.

Yoon Jang-ho, head of Koramco Asset Trust, said, "This REIT is based on stable rental income and can expand its business as a mobility retail platform utilizing regional hub gas stations." He added, "Based on profitability, we will strive to maximize investors' returns with two engines of growth through continuous additional gas station acquisitions in the future."

Koramco Energy Plus REIT will be listed on the KOSPI market on the 31st of next month after institutional demand forecasting from the 28th to 30th and general investor subscription from the 5th to 7th of next month. The listing sponsor is NH Investment & Securities.

This content was produced with the assistance of AI translation services.