Huaxia REIT (abbreviation: CCCC REIT, code: 508018), the first public offering REITs in 2022, which has attracted much attention, has a new trend. An announcement was issued on March 31. The subsidiary Huaxia China Communications Construction REIT will be officially released on April 7, 2022. The sale price of fund shares will be 9.399 yuan per unit, and the total sale share will be 1 billion. The total size of the fundraising is expected to be 9.399 billion yuan. (excluding subscription fees and interest generated by subscription funds during the raising period). If the fundraising is successfully completed, CCCC REIT will become the largest public offering REITs in the market.
The announcement shows that China Communications Construction REIT conducted an offline inquiry on March 29, and received a total of 160 inquiries and quotations from 160 placement objects managed by 68 offline investors. The total number of placement objects to be subscribed is 678,690 10,000 copies, which is 38.78 times the number of initial offline sales shares. After further elimination, there are 64 investors with valid quotations for the offline offering with the proposed subscription price not lower than the subscription price of fund units (9.399 yuan/unit), 149 placement objects under management, and the total number of valid subscriptions is 6,649.7 million. This is 38 times the number of initial offline offerings, ranking second in the effective subscription multiples of offline inquiry for the 6 public offering REITs that have been listed on the market.
Industry analysts said that the popularity of off-line inquiries of China Communications Construction REIT showed investors’ high recognition of the investment value of the product. According to the data, the underlying asset of the Huaxia China Communications Construction REIT project is the Wujia Road section, and the Wushen Expressway connects the Wuhan Economic Circle, the Changzhutan Economic Circle and the three major urban agglomerations of the Guangdong-Hong Kong-Macao Greater Bay Area. It is a major transportation channel connecting the central and southern regions of my country. , The population along the line is large, the economy is developed, and the demand for road network traffic is strong.
According to the announcement, the initial number of fund shares subscribed by the public investors of China Communications Construction REIT is 75 million, accounting for 7.5% of the total number of shares offered. During the fund raising period, investors can subscribe for fund shares multiple times. The minimum single subscription amount on the market is 1,000 yuan, and if it exceeds 1,000 yuan, it should be an integer multiple of 1 yuan; fee). In the event of a proportional allotment, the principle of the whole process of proportional allotment shall be followed. The duration of CCCC REIT is 40 years from the effective date of the Fund Contract. After the fund is established, it will be listed and traded on the stock exchange, and investors with cash flow needs can exit through on-market trading.
data shows that. CCCC, the controlling shareholder of China Communications Construction Co., Ltd., the sponsor of the China Communications Construction REIT project, is a super-large state-owned enterprise controlled by the State-owned Assets Supervision and Administration Commission of the State Council and a world-leading highway and bridge design and construction company. CCCC has undertaken the construction of a large number of super projects with high technical difficulty and great social impact, such as the Hong Kong-Zhuhai-Macao Bridge, Shanghai Yangshan Port, Yangtze River Estuary Channel Improvement, Beijing-Xinjiang Expressway, and Mombasa-Nairobi Railway. One of the companies in the layout, with rich asset reserves, can continue to expand and raise high-quality assets. In addition, the project ABS manager is a leading securities company in the industry. CITIC Securities has rich experience in undertaking and issuing REITs, and is the leader in China’s equity REITs business. The project fund manager, China Asset Management, also has rich experience in REITs research, and the alliance will provide strong support for the efficient and stable operation of China Communications Construction REIT after its establishment.Return to Sohu, see more
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