RENAISSANCE CITY DEVELOPMENT COMPANY LIMITED
Union Medical Healthcare (2138) issues shares to Champion REIT (2778)
| Wrong turn for REITs
Company announcement, 29-Apr-2020
Instead of 5 months' rent from March to July 2020, the REIT gets 0.812% of its tenant's enlarged shares at $4.20 per share, valued at HK$33.9m. In our view, REITs should not be investing in the stock market, as we said when we objected to amending the Code on REITs to allow this in 2014. The SFC went ahead and did it anyway.
Company announcement, 29-Apr-2020
Instead of 5 months' rent from March to July 2020, the REIT gets 0.812% of its tenant's enlarged shares at $4.20 per share, valued at HK$33.9m. In our view, REITs should not be investing in the stock market, as we said when we objected to amending the Code on REITs to allow this in 2014. The SFC went ahead and did it anyway.
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