Shoucheng subscribes to Alibaba-linked CICC Cainiao REIT
Smart infrastructure investor Shoucheng Holdings Ltd. (0697.HK) said on Tuesday that it has invested in the CICC Cainiao REIT (180307.SZ), without disclosing the specific amount.
The company said that the investment will help deepen industry-finance synergies and the integration of supply chain resources, while unlocking the value of existing smart warehousing infrastructure assets whose operations are already mature.
The CICC Cainiao REIT, which was oversubscribed by 320 times, debuted on the Shenzhen Stock Exchange on Oct. 30. Its current price is up nearly 10% from the listing price of 2.98 yuan. As the first publicly offered REIT within the Alibaba ecosystem, the fund’s underlying asset is a logistics park in the city of Jiaxing of East China’s Zhejiang province. Spanning a total gross floor area of 422,100 square meters, the facility commenced operations in 2018 and serves as a vital hub in Cainiao’s Yangtze River Delta supply chain network.
Shoucheng shares opened flat at HK$1.245 on Wednesday. The stock is down 90% from its 52-week high.
By Lau Chi Hang
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