Demand for the China Universal Jointown Pharmaceutical Warehousing & Logistics infrastructure fund easily surpassed the previous record held by Guotai Junan Jinan Energy Heating infrastructure fund, which was oversubscribed by 813 times last month.
Chinese demand for yield is showing few signs of abating even as risk sentiment has started to recover, as shown by the buying frenzy for real estate investment trusts.
The retail portion of a new pharmaceutical infrastructure-based REIT was oversubscribed by a record 1,192 times Wednesday as it raised 1.16 billion yuan ($214 million), according to a stock exchange filing.
