Translated from Xinhua Finance
On October 30, China Communications Construction Co., Ltd. held the listing ceremony of "Special Plan for Holding-type Real Estate Asset Support of Jiangkou-Weng'an Expressway" in Shanghai Stock Exchange, announcing that Zhongjiao Anjiang Expressway (stock code: 263083.SH) was officially listed. It is reported that the Jiangkou-Weng'an Expressway Project was officially established on August 30, 2024, with an issuance scale of RMB 4.957 billion and a product lifetime of 21.39 years. Its successful issuance and listing is another innovative practice of central enterprises to revitalize stock assets.
In recent years, the management has put forward clear requirements for central enterprises to enhance value creation capabilities, deepen the optimization of state-owned economy layout and structural adjustments, and deleverage to prevent risks. Asset revitalization is an important path for central enterprises to achieve high-quality development, which can help them optimize their asset structure, reduce financial leverage, and form a virtuous circle of stock assets and new investment.
Since 2023, Shanghai Stock Exchange has actively studied and promoted the pilot of holding-type real estate ABS projects, established a special team for holding-type real estate ABS products and a direct market service mechanism, and continuously promoted market construction. It has gradually developed into the hub, main position, and best practice base of China's holding-type real estate ABS products.
It is reported that at present, there are also multiple holding-type ABS reserve projects being accelerated. The initiators include central and state-owned enterprises, private enterprises and foreign-funded enterprises, covering diversified asset types such as expressways, affordable rental housing, data centers, and commercial properties.
Excerpt from Xinhua Finance on October 30, 2024
See full article at: https://tinyurl.com/2p9k6jhh
The above information is provided for reference purposes only and does not constitute investment advice.
