OREANDA-NEWS. December 14, 2015. Singapore Exchange (SGX) today welcomed BHG Retail REIT to Mainboard, under the stock code “BMGU”.

BHG Retail REIT is sponsored by Beijing Hualian Department Store Co., Ltd., an established retail property operator in China. The REIT will primarily invest in a portfolio of shopping malls located in China’s key cities which are business hubs in their respective regions.

Its initial portfolio comprises five retail properties located in Beijing, Chengdu, Dalian, Hefei and Xining, with an aggregate gross floor area of 263,688 square metres and total appraised value of RMB2.8 billion (S\\$605.9 million) as at 30 June 2015.

Ms Chan Iz-Lynn, Chief Executive Officer of BHG Retail Trust Management Pte. Ltd., the manager of BHG Retail REIT, said “We are delighted with BHG Retail REIT’s successful listing on the SGX today. Our strong line-up of cornerstone investors and support from international and local investors are testament to the confidence in the value proposition and the robust growth prospects of BHG Retail REIT. We believe the IPO provides investors with a platform to leverage on the consumption demand driven by a strong PRC economy, backed by our portfolio of five retail properties strategically located in China and that of a well-established Sponsor. Going forward, we remain committed to taking active steps to enhance and expand our property portfolio to achieve long-term sustainable growth for our unitholders.”

Lawrence Wong, Head of China Business and Listings, SGX, said, “We are pleased to welcome BHG, one of China’s leading retail groups to SGX via BHG Retail REIT. This listing further strengthens our position as Asia’s REITs hub and provides investors with another option to invest in China’s economic growth and its retail property market.” 

The listing of BHG Retail REIT brings the total number of REITs and property trusts listed on SGX to 39 with a market capitalisation of more than S\\$65 billion.

BHG Retail REIT opened at \\$0.80 today.