Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Chinese Expressways: A Step In The REIT Direction

Quiddity Advisors

Event-Driven

Yuexiu Transport Infrastructure / Event-Driven

Yuexiu Transport Infrastructure (1052 HK)

Back on the 30 April 2020, the China Securities Regulatory Commission (CSRC) and the National Development and Reform Commission (NDRC) jointly <a href="http://www.csrc.gov.cn/pub/zjhpublic/zjh/202004/t20200430_374847.htm" target="_blank" rel="noopener">announced</a> (Chinese-only) a new pilot for Chinese infrastructure real estate investment trusts (or C-REITs) - a mechanism to fund infrastructure projects such highways and airports,  and only for such infrastructure which has been operational for three years.  
This announcement signified the official commencement of the pilot program for the public listing of immovable property investment trusts for infrastructure assets.
I discussed this development in <a href="https://skr.ma/z1xjh" target="_blank" rel="noopener">Chinese Expressways: A Step In The REIT Direction</a>.
This was followed by a notice on the <a href="https://www.ndrc.gov.cn/xwdt/tzgg/202008/t20200803_1235509.html?code=&amp;state=123" target="_blank" rel="noopener">4 August</a> from the NDRC concerning the application process; and on the <a href="http://www.csrc.gov.cn/pub/zjhpublic/zjh/202008/t20200807_381310.htm" target="_blank" rel="noopener">7 August</a>, when the CSRC updated the guidelines for REIT listings.
<h3>The New News</h3>
<a href="https://www.smartkarma.com/entities/yuexiu-transport-infrastructure-ltd" target="_blank" data-smartkarma-citation="entities:9198:1" rel="noopener">Yuexiu Transport Infrastructure (1052 HK)</a> has <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/1014/2021101400079.pdf" target="_blank" rel="noopener">announced</a> that CAMC and CITIC have submitted the application materials on the registration and listing of CAMC-Yuexiu Expressway Close-end Infrastructure Securities Investment Fund to the CSRC and the Shenzhen Stock Exchange.
The application concerns the Wuhan - Xiaogan Expressway (漢孝高速公路) or Han-Xiao Expressway, one of 10 expressways operated by Yuexiu.
The spin-off, should it proceed, is not expected to have a material impact on Yuexiu. But potentially leading this pilot program is a vote of confidence on its investment portfolio.
More below the fold.

Back on the 30 April 2020, the China Securities Regulatory Commission (CSRC) and the National Development and Reform Commission (NDRC) jointly announced (Chinese-only) a new pilot for Chinese infrastructure real estate investment trusts (or C-REITs) - a mechanism to fund infrastructure projects such highways and airports,  and only for such infrastructure which has been operational for three years.  
This announcement signified the official commencement of the pilot program for the public listing of immovable property investment trusts for infrastructure assets.
I discussed this development in Chinese Expressways: A Step In The REIT Direction.
This was followed by a notice on the 4 August from the NDRC concerning the application process; and on the 7 August, when the CSRC updated the guidelines for REIT listings.
The New News
Yuexiu Transport Infrastructure (1052 HK) has announced that CAMC and CITIC have submitted the application materials on the registration and listing of CAMC-Yuexiu Expressway Close-end Infrastructure Securities Investment Fund to the CSRC and the Shenzhen Stock Exchange.
The application concerns the Wuhan - Xiaogan Expressway (漢孝高速公路) or Han-Xiao Expressway, one of 10 expressways operated by Yuexiu.
The spin-off, should it proceed, is not expected to have a material impact on Yuexiu. But potentially leading this pilot program is a vote of confidence on its investment portfolio.
More below the fold.

Yuexiu (1052 HK): REIT Application Lodged