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Macquarie to list trusts in China

Macquarie to list trusts in China

(24 August 2005 – China) Macquarie Bank is set to list two real estate investment trusts (REIT) in Hong Kong and possibly mainland China in 2006, according to reports. The REITs will have a combined size of between HK$7 and 8 billion. At this stage there is no information on where the mainland China trust is likely to list.

In July, Macquarie sunk US$93 million into a syndicate buying a portfolio of shopping centres in China.

The investment bank injected US$38 million of senior debt and US$55 million of equity, representing about 24 percent of the overall equity raised.

Macquarie indirectly owns the company which is part of a syndicate of institutional investors that have bought nine retail malls in China.
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