Huadian Power plans infrastructure REIT spin-off in Shanghai

Huadian Power International Corporation (HKEX:1071) announced plans for a spin-off and separate listing of an Infrastructure REIT on the Shanghai Stock Exchange. The underlying asset is the Huadian Hangzhou Natural Gas Heat and Power Co-Generation Project, owned by subsidiary Jiangdong Company. The company submitted the relevant application materials to the China Securities Regulatory Commission and the Shanghai Stock Exchange on March 10, 2025. The REIT will be a closed-ended fund with a 21-year term. Original stakeholders will hold a minimum of 51% of the REIT interests, with varying lock-up periods. The REIT aims to distribute at least 90% of its annual distributable funds to unitholders, at least annually.