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China Resources Land Gets Bourse Nod for Spin-Off of Projects Under REIT

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China Resources Land (HKG:1109) obtained approval for a proposed spin-off of certain shopping mall projects through the structure of an REIT on the Shenzhen Stock Exchange from the Hong Kong bourse, according to a Monday Hong Kong bourse filing.

The bourse has also granted the company the Waiver of Assured Entitlement.

The proposed spin-off constitutes the disposal of two shopping malls in Jiangsu and Shandong Provinces, China, to the REIT, as well as a subscription of 20% to 30% of units in the public fund established within the REIT by the firm, according to an earlier filing.

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