Can ordinary investors participate in public infrastructure REITs transactions?
Publicly offered infrastructure REITs adopt a closed-end operation and can be listed and traded after meeting legal conditions and being reviewed and approved by the exchange in accordance with the law. The subscription and trading of public infrastructure REITs shall implement a suitability management system. Although there are no specific requirements on asset status and investment experience for ordinary investors to participate in the subscription and trading of public infrastructure REITs, investors who participate in share subscription and trading for the first time should undergo suitability assessment and matching by the fund sales agency, and submit a paper Sign the risk disclosure form in physical or electronic form to confirm that they understand the product features and major risks.
Which account should investors use to participate in public REITs investments?
First, investors can use RMB ordinary stock accounts, closed-end fund accounts, and open-end fund accounts to participate in the strategic placement of infrastructure public REITs, offline placement, and subscription of shares sold to public investors.
Second, investors should use RMB ordinary stock accounts and closed-end fund accounts when participating in on-market transactions of infrastructure public offering REITs.
How do investors participate in the transaction of shares of infrastructure public REITs subscribed through different channels?
Investors need to understand that shares of infrastructure public REITs subscribed using on-exchange securities accounts can directly participate in on-site transactions on the Shanghai Stock Exchange; if investors subscribe using over-the-counter fund accounts, they should first be transferred to an on-exchange securities operating institution. Only then can you participate in on-site trading on the Shanghai Stock Exchange.
The re-custodianship of public infrastructure REITs is consistent with the re-custodianship of other public funds.
When investors participate in infrastructure public offering REITs bidding transactions, how is the reporting time stipulated?
Just like stock trading, if investors participate in public infrastructure REITs call auction transactions, the reporting time is from 9:15 to 9:25, 9:30 to 11:30, and 13:00 to 15:00 on each trading day.
When investors participate in infrastructure public offering REITs transactions, what are the requirements for the declaration quantity?
If investors participate in infrastructure public offering REITs transactions, the number of declarations should be 100 units or an integral multiple thereof. If the balance sold is less than 100 units, a one-time declaration for sale should be made.
If investors participate in public offering of infrastructure REITs price inquiries and block transactions, the number of single declarations should be 1,000 or an integral multiple thereof.
What are the regulations on the price limits for infrastructure public offering REITs transactions?
Like stock trading, the Shanghai Stock Exchange imposes price increase and decrease limits on the trading of public REITs. However, investors should note that the price limit on the first day of listing for publicly offered REITs is ±30%, and the price limit on the first day for non-listed REITs is ±10%, unless otherwise stipulated by the Shanghai Stock Exchange.
The formula for calculating the price increase and decrease of REITs is:
Price increase and decrease = previous closing price x (1± price increase and decrease ratio).
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