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【Introduction】Huaan Bailian Consumer REIT plans to go public this Friday

China Fund News reporter Zhang Yanbei

Another consumer REIT is about to be listed.

According to the latest announcement from Huaan Fund, Huaan Bailian Consumer REIT has been scheduled to be listed on the Shanghai Stock Exchange on August 16.

Huaan Bailian Consumer REIT will be listed this Friday

As the public REITs market continues to recover, good news comes again, and the secondary market is about to have a new member.

According to the official website of the Shanghai Stock Exchange, Huaan Bailian Consumer Closed-end Infrastructure Securities Investment Fund issued a listing announcement and plans to be listed on the Shanghai Stock Exchange on August 16, 2024. From then on, investors can directly buy and sell Huaan Bailian Consumer REIT in the secondary market and conveniently participate in consumer REITs investment.

The announcement shows that Huaan Bailian Consumer REIT's secondary market trading abbreviation is Bailian Consumer (expanded abbreviation: Huaan Bailian Consumer REIT). As of August 9, 2024, two working days before the announcement, the number of shares traded in this listing is 265,222,366 (excluding lock-up arrangement shares). The total amount of funds raised by Huaan Bailian Consumer REIT is RMB 2.332 billion.

As of August 9, 2024, institutional investors held 96.3% of the shares. The top ten holders included Shanghai Bailian Group, Guotai Junan Securities, Orient Securities, Shanghai Securities and other institutions.

Huaan Bailian Consumer REIT is the first consumer REITs in Shanghai and has attracted much attention from the market. The fund was launched on July 2 this year. The underlying asset is Shanghai Youyicheng Shopping Center, with a construction area of ​​125,000 square meters. According to the prospectus, the REIT's forecast net cash flow distribution rate (forecast annual distributable amount/public fund planned fundraising scale) in 2024 and 2025 is 5.65% and 6.22%.

Huaan Bailian Consumer REIT has attracted much attention from investors during the issuance phase. According to the announcement, the confirmation rate of valid subscription applications from offline investors was 67.8%, and the confirmation rate of valid subscription applications from public investors was 92.3%, demonstrating investors' recognition of the project.

Consumer REITs continue to be launched

In October 2023, the pilot program of public REITs was expanded to the consumer sector, and the first batch of four consumer public REITs were shortlisted.

So far, six consumer infrastructure REITs have been successfully issued, with a total issuance scale of over RMB 14.5 billion. In addition, the China Joy City Shopping Center REIT has also been registered and effective recently, and has entered the relevant preparatory work before issuance.

Overall, there are 7 public consumer REITs that have been listed or are in the process of being listed. Industry insiders pointed out that at present, the stock of domestic consumer infrastructure is huge, and there are still a lot of project values ​​that have not been effectively developed. Consumer infrastructure REITs are expected to accelerate the activation of stock assets and inject new vitality into the physical commercial consumption scene.

Editor: Captain

Review: Chen Mo

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