On July 6, 2022, Beijing Energy International issued an announcement, proposing to publicly raise infrastructure securities investment funds (hereinafter referred to as “REITs”) to be listed on China’s domestic stock exchange (Shanghai Stock Exchange tentatively) through spin-off. REITs will hold all the rights and interests of the project companies, namely Yulin Company (with 300 MW photovoltaic power generation project in Yulin, Shaanxi Province, China) and Jingtai Company (with 100 MW photovoltaic power generation project in Hubei Province, China).
Yulin Power Station in Shaanxi Province
According to the announcement information, the REITs public offering in Shanghai Stock Exchange is expected to be about RMB 3 billion, and not less than about RMB 2.838 billion. Beijing Energy International will subscribe for 51% of the infrastructure fund as a strategic investor, with an estimated total price of about 1.53 billion yuan. The 49% share of the infrastructure fund is expected to be subscribed by external investors, with an amount of at least about 1.47 billion yuan. After the REITs are issued, Yulin Company and Jingtai Company will continue to be subsidiaries of Beijing Energy International.
Suizhou Power Station in Hubei Province