Tuesday, October 19, 2010

Global Logistic Properties’ IPO 11 Times Oversubscribed

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


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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