Shanghai Industrial Holdings (00363.HK) subsidiary plans to implement REITs-like asset-backed securitization for Wuxi properties through a special plan.

Zhitong Finance APP news, Shanghai Industrial Holdings (00363.HK) announced that its non-wholly-owned subsidiary SIUD is proposing to implement quasi-REIT asset-backed securitization for the property through a special plan, aiming to realize the value of the group's existing property assets, generate cash proceeds, optimize the capital structure and lower the net gearing ratio. The special plan is expected to raise approximately RMB1.196 billion from investors through the issuance of approximately RMB1.077 billion of senior asset-backed securities and approximately RMB119 million of subordinated asset-backed securities.