SHANGHAI (Reuters) -- China's first batch of real estate investment trusts (REITs) were snapped up by retail investors on their first day of sales on Monday, according to fund managers and state media.
The retail tranches of the nine REITs, worth about 2 billion yuan ($314.05 million), attracted over 30 billion yuan of retail subscriptions, or over 10 times the amount available, official Securities Times reported. Meanwhile, fund managers have suspended taking new subscriptions.
