US$2.7 billion IPO for Chinese logistics facility provider

Shanghai-headquartered Global Logistic Properties (GLP) launched its initial public offering (IPO) on the Singapore Exchange. If the over-allotment option is fully exercised, the global offering will raise gross proceeds of S$3.45 billion (US$2.7 billion) and become the largest IPO on the Singapore bourse since 1993.

GLP is one of the largest modern logistics facilities providers in Asia, its network sprawled across 25 cities in China and Japan.