The photo shows the photovoltaic power generation equipment on the warehouse roof of the "Asia No.1" smart logistics center in Xi'an, northwest China's Shaanxi Province. (Provided by JD.com)
BEIJING, Feb. 9 (Xinhua) -- A real estate investment trust (REIT) backed by the warehouse properties of JD.com, Chinese e-commerce giant, was listed on the Shanghai Stock Exchange (SSE) on Wednesday, according to the company's corporate blog.
The trust represents China's first public warehousing and logistics REIT issued by a private company. It raised 1.757 billion yuan with off-line allotment reaching 126.04 in over-subscription multiples. The REIT's price opened at 3.862 yuan, surging 11.64 percent on its first trading day.
It's learned that the trust is 100 percent owned by JD.com., with JD property as its operator and Harvest Fund Management as its fund manager. The assets of the REIT include three logistics parks located in Langfang, Wuhan, and Chongqing, covering a total floor area of 350,995 square meters.
The successful listing will greatly stimulate the confidence of the private sector to invest in supply-chain infrastructure, which will also facilitate the digitization and intelligentization of the logistics industry, said Sandy Xu, JD.Com's chief financial officer.
According to the SSE, the infrastructure REITs will be issued on a regular basis in the near future. As of Feb. 8, a total of 16 infrastructure REITs have been trading at the bourse, with total fundraising coming in at 56 billion yuan. The proceeds from the REITs have also led to new projects whose total investment has approached 300 billion yuan.
Going forward, the SSE will explore including more industries and sectors such as new energy and affordable rental housing for REIT issuance this year, exchange officials added.
(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
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