Bengang Steel Plate to spin off CCPP assets into subsidiary for REIT issuance
Bengang Steel Plates Co., Ltd. (000761.SZ) announced on September 27 it will establish a wholly-owned subsidiary by contributing its CCPP power generation assets and other physical assets valued at 3.103 billion yuan. The move precedes a planned issuance of holding-type real estate asset-backed securities (institutional REITs) on the Shenzhen Stock Exchange, aimed at revitalizing assets and optimizing the company's capital structure.
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Bengang Steel Plates to set up wholly-owned unit with CCPP power assets
Bengang Steel Plates Co., Ltd. (000761.SZ) announced on September 27 that it plans to establish a wholly-owned subsidiary by contributing its CCPP power generation assets and other physical assets as capital. The move is aimed at revitalizing existing assets, broadening equity financing channels, and optimizing the company's asset-liability structure. The company intends to issue a holding-type real estate asset-backed security (institutional REITs) on the Shenzhen Stock Exchange. Under the transaction structure, the underlying assets must be held by a project company, and the asset-backed special plan will indirectly hold the underlying assets by owning 100% equity of the project company. The value of the physical assets contributed is appraised at 3.103 billion yuan.
Read sourceBenxi Steel Plate to Establish Wholly-Owned Subsidiary with CCPP Power Generation Assets
Benxi Steel Plate Co., Ltd. (000761.SZ) announced on September 27 that it plans to establish a wholly-owned subsidiary by contributing its CCPP (Combined Cycle Power Plant) power generation assets and other physical assets as capital. The move is aimed at revitalizing existing assets, broadening equity financing channels, and optimizing the company's asset-liability structure. The company intends to issue a holding-type real estate asset-backed security (institutional REITs) on the Shenzhen Stock Exchange. Under the transaction structure of the holding-type real estate asset-backed security, the underlying assets must be held by a project company, and the asset-backed special plan will indirectly hold the underlying assets by holding 100% equity of the project company. Accordingly, Benxi Steel Plate will transfer its CCPP power generation assets into the newly established project company. The value of the physical asset contribution is appraised at 3.103 billion yuan.
Read sourceBenxi Steel Plate to Set Up Wholly Owned Subsidiary with CCPP Power Generation Assets
Benxi Steel Plate Co., Ltd. (SZ 000761, closing price: 2.21 yuan) announced on the evening of September 27 that, in order to revitalize existing assets, broaden equity financing channels, and optimize its asset-liability structure, the company plans to issue holding-type real estate asset-backed securities on the Shenzhen Stock Exchange. According to the transaction structure requirements of such securities, the underlying assets should be held by a project company, and the asset-backed special plan indirectly holds the underlying assets through holding 100% equity of the project company. Accordingly, the company intends to establish a wholly owned subsidiary by contributing physical assets including its CCPP power generation assets, and transfer the CCPP power generation assets into the project company.
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Benxi Steel Plate to Set Up Wholly Owned Subsidiary with CCPP Power Generation Assets
Benxi Steel Plate Co., Ltd. (000761) announced on September 27 that it plans to issue holding-type real estate asset-backed securities (institutional REITs) on the Shenzhen Stock Exchange to revitalize existing assets, broaden equity financing channels, and optimize its asset-liability structure. According to the transaction structure requirements of the holding-type real estate asset-backed securities, the underlying assets must be held by a project company, and the asset-backed special plan will indirectly hold the underlying assets by holding 100% equity of the project company. Accordingly, the company intends to establish a wholly owned subsidiary by contributing physical assets including its CCPP power generation assets, and transfer the CCPP power generation assets into the project company. The amount of the physical asset contribution is the appraised value of 3.103 billion yuan.
Read sourceBengang Steel Plate to Establish Subsidiary with CCPP Power Assets for ABS Issuance
Bengang Steel Plate Co., Ltd. announced a plan to issue holding-type real estate asset-backed securities (ABS) on the Shenzhen Stock Exchange. The move aims to revitalize existing assets, broaden equity financing channels, and optimize the company's asset-liability structure. According to the transaction structure requirements, the underlying assets must be held by a project company, with the asset-backed special plan indirectly holding the underlying assets through 100% ownership of the project company. To comply with this structure, Bengang Steel Plate intends to establish a wholly-owned subsidiary by contributing its CCPP power generation assets and other physical assets as capital, and will transfer the CCPP power generation assets into this project company.
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