公募REITs首单！向原持有人配售扩募落地

Core Insights - The first public REITs expansion in China has successfully adopted a subscription method for existing fund shareholders, marking a significant breakthrough in the public REITs expansion mechanism [1][2] - The expansion raised over 1.1 billion yuan, which will be used to acquire a rental housing project in Shanghai, enhancing the fund's asset distribution in key industrial areas [1] - The REIT has provided stable returns to its holders since its listing in December 2022, with cumulative dividends exceeding 154 million yuan by the end of 2025 [1] Group 1 - The expansion utilized a subscription method that grants existing shareholders priority, preventing dilution of rights for small investors and maintaining a stable equity structure [2] - The fundraising amount reached 1.1329 billion yuan, with a participation rate of 99.51% from existing shareholders [2] - The pricing mechanism for the expansion reflects market constraints, incorporating asset valuation and secondary market prices to ensure fair pricing [2] Group 2 - Over 10,000 individual investors participated in the REIT expansion, significantly broadening access for personal investors [3] - Multiple subscription channels were established, allowing both on-market and off-market investors to easily exercise their subscription rights [3] - The process ensures equal participation rights for institutional and individual investors, enhancing market inclusivity [3]