The first domestic outlet REIT will be issued from tomorrow, priced at Rmb2.468/share.

The market performance of REITs products is largely determined by asset quality and management capabilities.

Recently, China Asset Management issued an announcement saying that China Fortune Capital's first outlet mall REIT will be officially issued from August 6 to August 9, 2024, with a price of RMB 2.468 per share and a total planned fundraising of RMB 1.974 billion. Among them, 0.6 billion shares will be issued to the public, and public investors can subscribe at the issue price through securities trading agencies or the fund management institution and its authorized off-site fund sales agencies. The minimum subscription amount is RMB 1,000 (including subscription fees).

The China Fortune Capital's first outlet mall REIT is the first outlet mall consumption REIT in the country, jointly launched by China Fortune Capital Development Group, China Asset Management and CITIC Securities. The underlying assets of the product are two outlet mall projects owned by China Fortune Capital Development Group - the Jinan China Fortune Capital Outlet Mall project and the Wuhan China Fortune Capital Outlet Mall project.

According to public information, the operating performance of these two projects ranks among the top three in the China Fortune Capital outlet mall system, and they have been in operation for 5 and 6 years respectively.

It is reported that in the off-line subscription stage, China Fortune Capital's first outlet mall REIT received 51 subscription allocation information from 33 off-line investors, with a total subscription number of 882.1 million shares, 6.3 times the initial off-line subscription volume.

According to the fund's planned fundraising scale and the information disclosed in the fund's recruitment notice, the distribution rate of China Fortune Capital's first outlet mall REIT in 2024 and 2025 is 5.46% and 5.84% respectively.

Analysts pointed out that the market performance of REITs products is largely determined by asset quality and management capabilities. As the first outlet mall REIT in the country, the subscription situation of China Fortune Capital's first outlet mall REIT and its subsequent price changes are worth continuous observation.

In October last year, the asset types of public REITs pilot projects were expanded to the consumption infrastructure field, which has a positive significance for opening up the "investment, financing, management and retirement" closed loop and further activating the commercial real estate stock.

Since the opening of the policy window, a total of 6 consumption infrastructure REITs products have been issued. Among them, the China Fortune Capital's first outlet mall REIT, the China Fortune Capital's first shopping center REIT, the China Fortune Capital's first commercial asset REIT, the China Fortune Capital's first outlet mall REIT, the China Fortune Capital's first printing and packaging REIT, and the China Fortune Capital's first printing and packaging REIT have been listed in the first half of this year.