Shanghai Industrial Urban Development Says Rental Housing REIT Plan Remains Preliminary
Shanghai Industrial Urban Development (HKG:0563) said a possible transaction involving its subsidized rental housing assets remains at a preliminary and exploratory stage.The company was responding to online reports that it had applied to the Shanghai Stock Exchange for a REIT listing, according to a Friday Hong Kong bourse filing.Shanghai Industrial Urban Development said it is evaluating whether to pursue a REIT listing, direct sale or another transaction structure, as well as the assets involved, potential counterparties and timing. There is no certainty the transaction will proceed, as it remains subject to definitive agreements, regulatory approvals, market conditions and other factors, it added.Shares of the company fell nearly 1% in recent trade.
