Ten billion yuan of funds snapped up the “Sunlight Foundation” (a fund that sold out in one day) reappeared. “Securities Daily” reporters learned from relevant sources that on August 16, the three public rental REITs that launched at the same time had a single-day subscription scale of more than 10 billion yuan, and the total “absorbing money” exceeded 68 billion yuan. At present, the three products All have announced the early closure of the fundraising. It is worth noting that, both in terms of the total subscription scale and the estimated distribution ratio, the issuance of these three products has exceeded the previously issued public offering REITs products.
Affected by the continuous fluctuation of the A-share market, since the beginning of this year, the new fund issuance market is still at a trough, with few tens of billions of dollars in hot funds, delayed fundraising of new funds, decline in the average fundraising scale, and even some product issuance failures… But the fund industry still insists Introducing the old and bringing forth the new, a number of innovative fund products have emerged one after another, and they have continued to be hotly sought after by market funds.
Red Earth Shenzhen Anju REIT
The estimated placement ratio is 0.3%
“On the day of the sale, the enthusiasm of public investors to subscribe was very high, and many high-net-worth customers subscribed for between 500,000 and 10 million yuan.” A product manager of a large securities firm in Beijing told the “Securities Daily” reporter.
As predicted by the market before, the three products of Huaxia Beijing Affordable Housing REIT, CICC Xiamen Anju REIT, and Hongtu Shenzhen Anju REIT were released simultaneously on August 16, and were highly sought after by market funds.
According to the previous announcement, the initial public share of the Hongtu Shenzhen Anju REIT sale is 60 million, and the total public sale scale is 149 million yuan; the initial public sale share of Huaxia Beijing Affordable Housing REIT is 60 million shares, and the total public sale scale is 150.6 million yuan. ; The initial public offering share of CICC Xiamen Anju REIT is 56 million copies, and the total public offering scale is 146.36 million yuan. Based on this calculation, the total estimated subscription funds for the public sale of these three affordable rental housing REITs are only 445.96 million yuan.
The “Securities Daily” reporter learned from relevant sources that as of 15:00 on August 16, the public subscription scale of Huaxia Beijing affordable housing REIT exceeded 5 billion yuan, and the market-wide public subscription scale of CICC Xiamen Anju REIT exceeded 6 billion yuan. Shenzhen Anju REIT has also overraised.
Soon after, three fund managers including China Asset Management Fund, CICC Fund, and Red Earth Innovation Fund quickly issued an announcement on the early termination of subscription and proportional allotment. The announcement shows that as of August 16, 2022, the cumulative number of valid subscription applications for public investors has exceeded the initial subscription size limit. Investors’ subscription applications will be partially confirmed by the Fund Manager in accordance with the relevant stipulations in the fund share offering announcement on the principle of “doomsday proportional allotment” for valid subscription applications from public investors on August 16, and the unconfirmed part of the subscription funds will be paid in Refunded to public investors after the subscription period ends.
On the evening of August 16, the reporter learned again from the above-mentioned sources that the final public subscription scale of Huaxia Beijing affordable housing REIT exceeded 17 billion yuan, and the estimated allocation ratio was 0.8%; the final public subscription scale of CICC Xiamen REIT exceeded 14 billion yuan, and the pre-planned scale of public subscription exceeded 14 billion yuan. The estimated placement ratio is 1%; the public subscription scale of Hongtu Shenzhen REIT exceeds 37 billion yuan, and the estimated placement ratio is 0.3%.
“The specific allocation ratio of new products still needs to be subject to the announcement of the confirmation ratio of subscription applications during the fund product offering period.” A person related to public offering REITs told the “Securities Daily” reporter.
A staff member of the business department of a large securities firm told the “Securities Daily” reporter, “The time for the payment of the proportional allotment is expected to arrive after the settlement on Thursday evening. It is for your reference only, and should be pushed through the relevant documents of the fund company and the China Registration and Clearing Corporation. Time shall prevail.”
Public offering REITs products
Expected to expand to 21
For public investors, buying public REITs on the market through securities accounts is the most common way for individual investors to participate. According to the statistics of a reporter from Securities Daily, as of August 17, 14 public REITs products have been successfully listed in the whole market. At present, investors’ awareness of public offering REITs products is rapidly increasing.
Although the current stock of public REITs is limited, there are still a number of public REITs products that are waiting for review, and the overall public REITs team is still expanding.
According to the information disclosed by the Shanghai Stock Exchange and the Shenzhen Stock Exchange, at present, Guotai Junan Lingang Production Park REIT, Huatai Zijin Jiangsu Traffic Control Expressway REIT, Huaxia Hefei High-tech Innovation Industrial Park REIT, and Guotai Junan Dongjiu New Economy REIT are currently queuing for review. Among them, the review status of Huaxia Hefei High-tech Innovation Industrial Park REIT project has been updated to “Inquired”, and the project acceptance time is July 22, 2022; Huatai Zijin Jiangsu Traffic Control Expressway REIT, Guotai Junan Lingang Industrial Park REIT project The review status is updated to “Feedback”. Guotai Jun An Dongjiu New Economy REIT was officially accepted on August 15. This project is the first publicly offered REITs officially declared by a private enterprise in the market.
If you count the 3 public rental REITs that were released simultaneously on August 16 but have not yet been established, the market-wide public offering REITs products are expected to expand to 21.