Global Logistic Properties Limited (GLP), a market leader in
modern logistics facilities in China and Japan, announced that
its Initial Public Offering (IPO) for 13.02 million shares was 11
times oversubscribed, resulting in S$2.2 billion worth of application
monies for the Group.
The Group’s international placement tranche of
1,070,869,000 Offering Shares, being approximately 12 times
oversubscribed, also drew strong interest from institutional
investors.
Both the Group’s international placement and public offer
shares were priced at S$1.96 per share, and with the total
offering being about 12 times oversubscribed, gross proceeds
raised from the Global Offering amounted to S$3.9 billion
should the Over-allotment Option be fully exercised.
GLP attracted 10 cornerstone investors who had subscribed
for an aggregate of 588,976,000 shares, including Bosera
Asset Management Co Ltd, ING Clarion Real Estate Securities,
US investment management firm LLC, Lion Global Investors
Limited, CB Richard Ellis Global Real Estate Securities,
Alibaba Group Treasury Limited, Chow Tai Fook Nominee
Limited, and Jovina Investments Limited.
The total number of issued and outstanding shares immediately
after the IPO would be 4,506,689,664 shares. At the
price of S$1.96 per share, the Group would be worth S$8.8
billion, placing it among the top 30 largest companies listed on
the SGX-ST.
GLP’s shares commenced trading at 9.00 am on 18 October 2010.
Global Logistics Properties Limited closed on
Monday at S$2.170.
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