Seazen Unit Applies to Spin Off Two Projects as Commercial REITs
MT Newswires Live
Mar 09
Seazen (HKG:1030) said its subsidiary Seazen Holdings has begun applying for the public issuance of commercial real estate investment trusts backed by two shopping mall projects, according to a Monday Hong Kong bourse filing.
The proposed spin-off will use the Changzhou Tianning Wuyue Plaza and Nantong Qidong Wuyue Plaza projects as underlying assets, the filing said.
The application for the commercial REITs has been submitted to the China Securities Regulatory Commission and the Shanghai Stock Exchange, which accepted the filing on March 6.
Seazen said the REIT structure could help broaden financing channels, revitalize existing assets, and improve asset operation efficiency.
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