China Resources Land Limited (CR Land) confirmed that Hong Kong Exchanges and Clearing Limited has approved the company’s proposed spin-off of its commercial real estate investment trust (REIT) on the Shenzhen Stock Exchange. The exchange has also granted CR Land a waiver from strict compliance with paragraph 3(f) of Practice Note 15, removing the need to offer assured entitlement to existing shareholders.

The waiver was granted after the board provided: 1) reasons for not offering assured entitlement, 2) a legal opinion citing People’s Republic of China restrictions, and 3) a written confirmation that the spin-off and waiver are fair and in the interests of all shareholders.

Key timeline and conditions: • 15 May 2026 – HKEX confirmed CR Land may proceed with the spin-off. • Listing of the REIT remains subject to prevailing market conditions and review or registration by both the Shenzhen Stock Exchange and the China Securities Regulatory Commission.

The company reiterated that there is no assurance on the timing or certainty of the REIT’s public offering and advised investors to exercise caution when trading its shares.