Perennial China Retail Trust (PCRT) is focused specifically on shopping malls but with a China focus. Although I am not usually interested in IPOs, I am curious about this one since I have vested interest in CapitaMalls Asia which has a large exposure in China. PCRT has two objectives: 1. Provide unitholders with long-term capital growth from a steady growth in net asset value (NAV). 2. Provide unitholders with regular distributions from the income of its completed and stabilised assets. PCRT will have an initial portfolio which includes: 1. 50% stake in Red Star Macalline Global Home Furniture Lifestyle Mall, Shenyang. 2. 50% stake in Shenyang Longemont Shopping Mall, Shenyang. 3. 100% stake in Foshan Yicui Shijia Shopping Mall, Foshan. 4. 100% stake in Chengdu Qingyang Guanghua Shopping Mall, Chengdu. Only Red Star Macalline Global Home Furniture Lifestyle Mall, Shenyang, which was completed on 30 Sep 2010 is income contributing ... Read the full article →...