130 billion crowded purchases, at the beginning of the year Reits are "exploding" in sales

This year, any product with a slightly high expected interest (yield) cannot remain low-key.

On January 9, Shanghai Guotai Junan Securities Asset Management Co., Ltd. (hereinafter referred to as GTJA Asset Management) announced the results of the subscription application confirmation ratio for the Guotai Junan Jinan Energy Heating Closed-End Infrastructure Securities Investment Fund (REITs).

The results showed that the original fundraising period for the fund was from January 6 to January 7, 2025. Due to enthusiastic subscriptions from public investors, as of January 6, 2025, the fund manager decided, after consultation with other relevant parties, to advance the subscription and payment deadline to January 6, 2025, and will no longer accept subscription applications from public investors starting January 7, 2025.

The announcement also indicated that as of January 6, 2025, the number of fund shares effectively subscribed by public investors was approximately 12.2 billion shares, and the above-mentioned effective subscribing public investors have paid the full subscription amount. This exceeds the total initial public offering amount specified in the offering announcement.

The initial public offering amount for the fund was 15 million shares, accounting for 30% of the offering amount after deducting the initial offering amount for strategic placement. In other words, the number of fund shares effectively subscribed by public investors was approximately 813.44 times the initial public offering amount of the fund, setting a historical high for public REITs subscription multiples.

Combined with the 12.2 billion subscription shares, the corresponding fund scale is approximately 91.268 billion yuan.

The announcement showed that the total number of fund shares approved for fundraising by the China Securities Regulatory Commission was 200 million shares, consisting of three parts: strategic placement, offline offering, and public offering.

The initial offering amount for strategic placement was 150 million shares, and strategic investors have subscribed for their committed fund shares according to the subscription price determined by offline inquiry based on the strategic placement agreement. The final offering amount for strategic placement was 150 million shares, the same as the initial offering amount for strategic placement.

The initial offering amount for the fund's offline sale was 35 million shares, and all placement objects that submitted valid quotes in this offering have submitted subscription applications through the Shanghai Stock Exchange's "REITs Inquiry and Subscription System" and completed the full payment of subscription funds, corresponding to an effective subscription fund share quantity of 4.9335 billion shares, exceeding the total initial offering amount specified in the offering announcement.

In addition to the public portion, based on a subscription price of 7.48 yuan/share, the subscription funds attracted by this product's offering are close to 129.293 billion yuan.

Thus, a subscription totaling 130 billion yuan has been completed.

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