At present, the largest public REITs attack!Expert: highway income is stable, it is high quality bottom asset!

2022-05-29 0 By

The original title is currently the largest public offering REITs!Huaxia (9.400, -0.24, -2.49%) high-speed REIT sale is imminent, experts: highway income stability, is the quality of the underlying assets!Wenchang School yu market attention in 2022 the first single public offering REITs — Huaxia China Communications construction high-speed REIT and new news.On March 31, China Amc announced that its China CCCC High-speed REIT will be officially put on sale on April 7, the fund share sale price is 9.399 yuan/share, the total share sale is 1 billion, the total is expected to raise a total scale of 9.399 billion yuan (excluding subscription fees and subscription funds generated in the raising period of interest).If successfully completed, Huaxia CCCC High-speed REIT will become the largest public offering REITs in the current market.According to public information, the underlying asset of Huaxia China Communications Construction High-speed REIT project is the Jiatong section of Wuhan (9.620, 0.12, 1.26%). The Wuzhou-Shenzhen Expressway connects wuhan Economic Circle, Changsha-Zhuzhou-Xiangtan Economic Circle and the Guangdong-Hong Kong-Macao Greater Bay Area. It is a transportation channel connecting central and southern regions of China, with a large population and developed economy along it.The road network is in high demand.Shanghai Securities Fund evaluation research Center senior fund analyst, Dr. Sun Guiping told the Securities Daily reporter that Huaxia China Construction High-speed REITs for toll highway REITs, currently this type of REITs development is fast, there are four products, the number and industrial park REITs equal.As an existing infrastructure asset type in the market, its infrastructure asset inclusion criteria, issuance mode and process, as well as the performance of the secondary market are relatively clear. It is expected that most of the new REITs products will emerge from the existing asset types this year.Tian Lihui, Dean of Financial Development Institute of Nankai University, reporter from Securities Daily, the expressway industry is one of the high-quality underlying assets of public REITs with strong risk resistance and relatively stable investment returns.The announcement shows that Huaxia China CCCC High-speed REIT carried out online inquiry on March 29, received a total of 68 offline investors management of 160 allotment object inquiry quotation information, all the allotment object to subscribe for a total of 6786.90 million copies, 38.78 times the initial share of the number of offline sale.After further elimination, there are 64 investors in the effective offer of the offline offering whose subscription price is not lower than the subscription price of the fund shares (9.399 yuan/share), 149 allotment objects under management, and the total effective subscription number is 6,649.70 million, 38 times of the initial offline offering share number.According to the announcement, public investors in China Communications Construction High-speed REIT will subscribe to an initial 750 million shares of the fund, accounting for 7.5 percent of the total shares offered.During the period of fund raising, investors may subscribe for fund shares for many times, and each subscription within the market shall be 1000 shares or an integer multiple thereof;The amount of each over-the-counter subscription shall not be less than 1000 yuan (including subscription fee).In the event of proportional placement, the principle of full proportional placement shall be followed.The duration of the HUAXIA CCCC High-speed REIT is 40 years from the effective date of the fund contract.After the fund is established, it will be listed on the Shanghai Stock Exchange, and investors with cash flow needs can exit through trading on the exchange.Public information, huaxia Chinese built high-speed REIT project sponsor of China communications construction co., LTD. Is the controlling shareholder in the group, China’s hand in the building construction on the hong kong-zhuhai-macao bridge, sea port, the Yangtze estuary waterway regulation, Beijing new high-speed, a large number of money railway technology difficulty is high, the social influence of super engineering, with abundant reserve assets,Sustainable expansion of high-quality assets.In addition, the project ABS manager is (20.870, -0.20, -0.95%), and the project fund manager is China Amc.Tian Lihui said that the public offering of REITs is equivalent to the “IPO of assets”, which requires the professional ability of market entities. The approval and subsequent sale of China Communications and Construction High-speed REITs show the market financing ability formed by the joint efforts of the top fund, the top brokerage and the infrastructure giants.Since the first infrastructure public offering REITs project landed in June 2021, there have been 11 products on the market.Chen Li, chief economist and director of the research institute of Chuancai Securities, told Securities Daily, “The 11 products have run smoothly and have good liquidity since they were listed, which is in line with expectations.If the volume of REITs continues to expand in the future, it will provide the possibility for more high-quality infrastructure asset securitization, effectively expand investment, and inject incremental capital for infrastructure construction.”In Sun Guiping’s opinion, as innovative products in the capital market, public REITs should always maintain the continuity of innovation. Currently, the number of infrastructure types covered is too small, and it is expected that there may be one or two new infrastructure asset REITs this year, so as to better serve more types of infrastructure construction.In addition, from the current policy level and market performance, it is expected that the number and scale of REITs issuance this year may exceed the level of 2021, covering more asset types, and there may be a breakthrough in REITs expansion, so that the scale of single REITs will continue to expand, forming a virtuous cycle of REITs development.In the medium and long term, the scale of publicly offered REITs products will reach one trillion yuan.Statement: The copyright of this article belongs to the original author, if there is a source error or infringement of your legitimate rights and interests, you can contact us through email, we will promptly deal with.Email address: jpbl@jp.jiupainews.com