China set for first public REIT

摘要

China is to welcome its first public offering from a real estate investment trust, a major breakthrough for efforts to introduce the popular global product to the mainland market. Shenzhen-based property developer China Vanke and Penghua Fund Management, a joint venture between Guosen Securities and Eurizon Capital SCR, are in the market to raise up to Rmb3bn (US$483m) through the Shenzhen listing of penghua qianhai vanke reit. The REIT is the first in China to be offered to both institutional and retail investors, and the first to be listed on a stock exchange. The first publicly tradable REIT will mark a milestone in the development of China's domestic capital market, finally making the product available for retail investors and bringing the structure closer to the international standard.