SINGAPORE: Singapore sovereign wealth fund GIC’s logistics unit, Global Logistic Properties (GLP), looks set to raise about S$3.9bil after it priced its initial public offering (IPO) at the top of the range, sources said yesterday.
GLP is selling 1.762 billion shares at S$1.96 apiece, against an indicative range of S$1.78-S$1.96, sources told Reuters. The company has an option to sell an additional 234.6 million shares if the issue managers exercise a greenshoe option.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!