ChinaAMC-HEDA REIT Successfully Listed on SZSE
The originator of ChinaAMC-HEDA REIT is Hangzhou Heda Hi-Tech Development Group Co., Ltd., with China Asset Management Co., Ltd. and CITIC Securities Co., Ltd. respectively acting as the fund manager and the special plan manager. The two underlying assets, i.e. HEDA Pharma Valley Phase I and the incubator, are both located in Hangzhou Economic and Technological Development Area and are industrially mature with an average occupancy rate of over 90%. With a raised fund size of CNY 1.404 billion, ChinaAMC-HEDA REIT offers 500 million units in total, with the fund raised to invest in the construction of HEDA Pharma Valley Phase V and the Valley Core project. At the placement stage, the product received extensive market recognition, with an initial subscription ratio of 155 times among offline investors and 271 times among public investors, attracting more than CNY 98.1 billion in total.
Since the launch of the first pilot projects in June 2021, nine infrastructure REITs have been successfully listed on SZSE so far, covering such mainstream infrastructures as government-subsidized rental housing, eco-environment protection, clean energies, industrial parks, storage & logistical facilities, and toll roads. With active investor involvement, all the products have been operating smoothly, leveraging the role of the market, and showing the initial advantages of scale as demonstration projects. With a steady and good start, they are expected to reactivate stock assets in society and lower the leverage ratio of real economy.
Next, SZSE will further study and implement the guiding principles of the 20th CPC National Congress and the Central Economic Work Conference, and fully carry out the “10 measures to accelerate the regular offering of infrastructure REITs” enacted by CSRC. To be specific, SZSE will steadily scale up REIT pilot projects, improve supporting rules, refine operating mechanisms and enhance service quality. Also, SZSE will give better play to the role of V-Next and SZSE Technology and IP Exchange, and work with all parties concerned to advance the building of industrial parks as innovative ecosystems, so as to empower industrial park infrastructure REITs, build REITs into mainstream financial products in China and foster a REIT market with Chinese characteristics.
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