IPO: Global Logistic Properties (GLP)

No pricing yet for this gigantic IPO of Global Logistics Properties (GLP). The global roadshow will begin only on Sept 23 & pricing is expected on Oct 8. Looking forward for more details on this IPO.

It's going to be the largest IPO in Singapore & it's from the Government of Singapore Investment Corp (GIC). But other than these 2 appealing facts, I would be better advised by studying the prospectus.

AN INITIAL public offering (IPO) which could be Singapore's largest is about to get under way, and retail investors will have a slice of the action.

The Government of Singapore Investment Corp (GIC) is planning to list its logistics unit here next month and has started talks with major investors.

Bankers say the IPO of Global Logistics Properties (GLP) is set to raise more than US$3 billion (S$4 billion), and could even top SingTel's $4 billion-plus listing in 1993.

GLP owns warehouses in China and Japan.

Pre-marketing efforts to institutional investors started in Singapore and Hong Kong yesterday, though the global roadshow will begin only on Sept 23.

GIC declined to comment on Thursday.

From Straits Times, "GIC plans record listing".

Sovereign wealth fund Government of Singapore Investment Corp (GIC) is expected to list its logistics unit on the Singapore Exchange on October 15.

The initial public offering (IPO) of Global Logistic Properties (GLP) aims to raise up to US$3 billion in what could be Singapore's biggest IPO.

If successful, the IPO would be bigger than SingTel's S$4 billion (US$2.9 billion) listing in 1993, and dwarf CapitaMalls Asia's US$2.02 billion IPO launched last year.

GLP owns industrial and logistic properties in China and Japan. It is one of Asia's biggest operator of logistics parks, managing 53 logistics parks in 18 major cities.

Investor roadshows for the IPO will begin on September 23, and pricing is expected on October 8.

The IPO is expected to be split between a 95 per cent global tranche and a 5 per cent Singapore tranche.

Sources said the proceeds of the IPO will be used to support growth plans in China and Japan, as well as to pay down existing loans and for general working capital.

Citigroup and JPMorgan are global coordinators and book runners for the IPO, while DBS, UBS and China International Capital Corp are book runners.

GLP's IPO will be among a number of other large Singapore IPOs that are expected to hit the market in coming months, including a S$1 billion IPO planned by Mapletree Industrial Real Estate Investment Trust and a possible S$700 million IPO by China-based New Century Shipbuilding.

From Channel NewsAsia, "GIC's logistics unit to raise up to US$3b in IPO".


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