Summary by Moomoo AI
Sinotrans Limited announced that its public REITs application for infrastructure has been accepted by the China Securities Regulatory Commission and the Shanghai Stock Exchange. This REITs involves the logistics infrastructure assets held by some subsidiaries of the company and has been confirmed by the Hong Kong Stock Exchange to be able to be separately listed according to PN15.Due to restrictions of Chinese regulations, the company is unable to provide guaranteed rights for all existing shareholders to obtain REITs shares. Therefore, the Hong Kong Stock Exchange has approved the exemption from strict compliance with PN15 Section 3(f) regarding the provision of guaranteed rights to existing shareholders. The Board of Directors believes that this exemption is fair and reasonable, and in the overall interest of the company and shareholders.The company reminds investors that the issuance of REITs still requires approval from relevant Chinese regulatory authorities and must meet market conditions, which involves uncertainty. The company will continue to promote this project and disclose significant progress in a timely manner.