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Thursday, February 25, 2010

REIT Financial News - 24 FEB 2010: Fortune Reit seeks dual-primary listing in Hong Kong

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Fortune REIT seeks dual-primary listing in Hong Kong by way of introduction:

24 February 2010. ARA Asset Management (Fortune) Limited (the “Manager” ), as manager of Fortune Real Estate Investment Trust (“Fortune REIT”), wishes to announce that the Manager is seeking a dual primary listing of Fortune REIT’s units (“Units”) on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) by way of introduction (the “Introduction”).

See related reports:
Press Release
Proposal

Author's Note
Recently there has been much hype about S-Chips dual listing in China, Hong Kong (China XLX), Taiwan, and even in Oslo, Norway (China Fishery). Now even a Reit like Fortune Reit has chosen this path. Currently all the properties of Fortune Reit are in Hong Kong. It will be interesting to see whether the same upswing of share prices over some of the S-Chips that have gone for dual listing will also happen to Fortune Reit.

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