S.F. Holding Co., Ltd. (SZSE:002352) plans to raise up to HKD 2.68 billion ($345 million) through listing an offshore real estate investment trust (Reit) in Hong Kong. SF Real Estate Investment Trust (SF Reit) will sell 520 million units in a range of HKD 4.68 to HKD 5.16 each. The company will start marketing the public offering from May 5, 2021, with the Reit units debuting on May 17, 2021. “We are the first Reit focused on logistic assets in the Greater China market,” Hubert Chak, the Chief executive officer of SF Reit Asset Management, told a media briefing on May 4, 2021. Two cornerstone investors, state-owned China Orient Asset Management and a Canada-based investment fund, will subscribe to a combined $50 million worth of Reit units. A listing application for SF Reit was submitted to the bourse operator Hong Kong Exchanges & Clearing on April 23, 2021. Shenzhen-listed S.F. Holding, which operates SF Express, is injecting three logistics centres worth HKD 6.1 billion into the Reit to be listed in Hong Kong as part of a plan to free up cash from its assets, according to the document. The sale price may be adjusted based on the final offer price. One of them is its crown jewel, the Asia Logistics Hub-SF Centre in Tsing Yi, Hong Kong, valued at HKD 5.29 billion.