Singapore Exchange : SGX welcomes Dasin Retail Trust to Mainboard

Singapore Exchange (SGX) today welcomed Dasin Retail Trust to Mainboard under the stock code 'CEDU'.

Dasin Retail Trust is the first SGX-listed China retail property trust providing direct exposure to the fast-growing Pearl River Delta region. Dasin Retail Trust's principal investment mandate is to own, develop or invest in land, uncompleted developments and income-producing real estate in Greater China, used primarily for retail purposes, as well as real estate-related assets initially focused on retail malls. The Trust has an initial portfolio comprising three retail malls strategically located in Zhongshan City in the People's Republic of China.

Yang Bin, Chief Executive Officer of Dasin Retail Trust Management Pte. Ltd., the trustee-manager of Dasin Retail Trust, said, 'We are pleased to celebrate Dasin Retail Trust's successful listing on the SGX-ST as the first mainboard listing in 2017. Our defensive asset portfolio offers a mix of stable and growth assets, which offer investors cash flow stability and strong growth potential. Backed by the vast economic growth opportunities in the Pearl River Delta region, strong consumer spending culture, standard of living in the region and the Sponsor's strong fundamentals, we are confident of the portfolio's potential to provide unitholders with attractive returns from regular distributions and long-term income growth.'

Simon Lim, Head of Equity Capital Market (Sectors), SGX, said, 'We are delighted to welcome Dasin Retail Trust as the first Mainboard listing in 2017. This listing offers investors a proxy to invest in China's growing retail market through our robust business trust framework.'

The listing of Dasin Retail Trust brings the total number of SGX-listed REITs and property trusts to 43, with a combined market capitalisation of about S$70 billion.

Dasin Retail Trust opened at $0.805 today.

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