Qianhai Authority, a statutory body of Qianhai Cooperation Zone in China, has, through its wholly owned subsidiary, Qianhai International Holdings, has emerged as a new substantial shareholder of BHG Retail REIT.
Qianhai International Holdings is a wholly owned subsidiary of Qianhai Financial Holdings, which is in turn, a wholly state-owned financial holding company founded by the Qianhai Authority of China.
In a July 1 filing, Qianhai International Holdings has bought some 101.5 million units via an off-market transaction, at a total cost of $58.9 million.
This brings Qianhai International’s total stake in BHG Retail REIT to 19.92 percent. Previously, Qianhai International did not own any units in the REIT.
In a separate filing on the same day, China Citic Bank Asset Management ceased to be a substantial shareholder of the REIT when it sold 68.125 million units at the same price of 58 cents per unit. This reduces China Citic Bank’s stake in BHG Retai
