Starting from 1,000 yuan, "get on the car" rental housing REITs 3 innovative products will be released at the same time
Our reporter Wang Siwen
The first batch of 3 affordable rental housing REITs in China, which has attracted much attention from the market, was officially released.
A reporter from Securities Daily learned from the fund company that three products, including Huaxia Beijing Affordable Housing REIT, CICC Xiamen Anju REIT, and Hongtu Shenzhen Anju REIT, will be released simultaneously on August 16, and public investors only need a minimum of 1,000 yuan, namely Fund shares can be subscribed on-site or off-site, participate in the construction of affordable rental housing, and share the development dividends brought by high-quality asset projects.
According to the reporter's calculation, the estimated total fundraising of the three affordable rental housing REITs to the public is 445.96 million yuan.
According to industry insiders, judging from the previous sales of publicly offered REITs, it is expected that these three products are also expected to be sought after by various funds.
Proportion of public investors offering
Generally around 12%
Similar to the previously issued public REITs, the initial fund shares of the three affordable rental housing REITs issued this time are not much left for public investors to subscribe, accounting for about 12% of the total sales.
Judging from the total sales shares, the total sales shares of the laterite Shenzhen Anju REIT, Huaxia Beijing Affordable Housing REIT and CICC Xiamen Anju REIT are all 500 million, and the subscription prices are 2.484 yuan/unit, 2.51 yuan/unit and 2.6 yuan per copy, and the total fundraising scale is expected to be 1.242 billion yuan, 1.255 billion yuan and 1.3 billion yuan, respectively, excluding subscription fees and interest generated by the subscription funds during the raising period.
Among the total shares of the Hongtu Shenzhen Anju REIT sale, the initial strategic placement share is 300 million shares, the offline initial sale share is 140 million shares, and the public initial sale share is 60 million shares, accounting for 12% of the total sale.
In other words, the scale of the product for public sale is only 149 million yuan.
The initial public sale share of Huaxia Beijing Affordable Housing REIT is 60 million, which is also 12% of the total sale, that is, the scale of the product being sold to the public is 150.6 million yuan.
The initial public offering share of CICC Xiamen Anju REIT is 56 million, which is 11.3% of the total offering, that is, the scale of the product being offered to the public is 146.36 million.
Based on this calculation, the estimated total amount of funds raised by these three affordable rental housing REITs sold to the public is 445.96 million yuan.
"Judging from the popularity of offline inquiries, these three products are likely to continue the hot trend of public offering REITs and set off a small upsurge in recent fund issuance." A brokerage product manager in Beijing told the "Securities Daily" reporter.
Last week, the offline inquiry results of the first batch of three affordable rental housing REITs in China were released one after another.
In the offline inquiry stage of Jingbao REIT, 211 placement objects managed by 71 offline investors submitted inquiry and quotation information. The total number of proposed subscriptions reached 15.872 billion, which is 11.337% of the initial offline offering of 140 million. CICC Xiamen Anju REIT is also favored by offline funds in the inquiry stage, and has received inquiries and quotations from 220 placement objects managed by 69 offline investors. The total number of shares to be subscribed by all placement objects is 14.312 billion shares, which is 108.96 times the number of initial shares sold offline.
It is worth noting that during the offline inquiry stage, Hongtu Shenzhen Anju REIT has received inquiries and quotations from 252 placement objects managed by 83 offline investors. The number of shares sold offline is 133.03 times, setting an industry record for publicly offered REITs that have been issued in the industry.
Reasonable size of rental housing market
3 trillion to 4 trillion yuan
What is the investment value and significance of public investors investing in affordable rental housing REITs?
In an interview with the "Securities Daily" reporter, Red Earth Innovation Fund said, "For investors, the launch of affordable rental housing REITs has enriched the types of REITs market, allowing ordinary investors to participate in the construction of affordable rental housing. Jolywood enjoys the development dividends brought by high-quality asset projects.”
"From the perspective of investment value, the investment field of affordable rental housing REITs has certain policy dividends. In June 2021, the State Council issued the "Opinions on Accelerating the Development of Affordable Rental Housing". Relevant support policies have been clarified, and the release and superposition of policy dividends has created a certain investment profit space for affordable rental housing REITs." The Red Earth Innovation Fund told reporters, "The affordable rental housing projects in various regions have entered a period of rapid development, which also provides a boost for the affordable rental housing REITs. Affordable rental housing REITs provide a quality investment target.”
According to information from the Ministry of Housing and Urban-Rural Development, 40 key cities will build a total of 6.5 million units (rooms) of affordable rental housing during the "14th Five-Year Plan" period. Rental housing REITs projects are concentrated in first- and second-tier cities.
It can be seen that the underlying assets of affordable rental housing REITs are generally excellent and have good investment value.
"Affordable rental housing is one of the ideal types of assets in the infrastructure sector." CICC Fund told reporters, "In terms of market demand, the future market for rental housing will be huge. According to CICC's research, China's reasonable rental housing market The scale may reach the level of 3 trillion yuan to 4 trillion yuan, which will be mainly concentrated in large and medium cities. At present, the development of affordable rental housing REITs is in the ascendant, and the future prospects are worth looking forward to.” (Securities Daily)
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