Shanghai Industrial Holdings' (HKG:0363) subsidiary Shanghai Jiyun Infrastructure Construction agreed to subscribe for 158.3 million constituent units of REIT, representing 15.8284% of the offered units for up to 1.38 billion yuan at a maximum of 8.717 yuan per unit, a Monday Hong Kong bourse filing said.

REIT or Ping An Ningbo Transport Hangzhou Bay Cross-sea Bridge Closed-end Infrastructure Securities Investment Fund is the infrastructure fund to be established in China.

The actual subscription amount will be determined after the initial public offering of the REIT fund. The company plans to fund the subscription with its internal resources or bank financing.