Sinotrans (HKG:0598, SHA:601598) received approval from the Hong Kong Stock Exchange to spin-off and list separately real estate investment trust or REIT for infrastructure assets, according to a bourse filing on Tuesday.
The logistics company applied for the registration and listing of the BOC Sinotrans Warehousing and Logistics Closed-end Infrastructure Securities Investment Fund and the transfer of the asset-backed securities of BOC Sinotrans Warehousing and Logistics Infrastructure Phase 1 Asset-Backed Special Scheme.
The REITs' underlying infrastructure assets comprise warehouse logistics infrastructure assets owned by certain subsidiaries of the company.
However, Sinotrans will not provide the assured entitlements to all existing shareholders as it is not feasible for the company, the filing added.
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