The Institute issued a submission in response to the Securities and Futures Commission (SFC)’s Consultation Paper seeking market feedback on a statutory scheme of arrangement and compulsory acquisition mechanism for real estate investment trusts (REITs) and an enhanced market conduct regime for listed collective investment schemes (CIS) under the Securities and Futures Ordinance (Cap. 571). The Institute supports, in principle, the SFC’s proposals to provide a route for REITs to be subject to mergers and acquisitions and privatizations, and for undervalued REITs to be better able to realize their fair value, as in the case of listed companies. This should help to support the REIT market in Hong Kong. Please refer to the submission for further details. |