GIC's logistics property arm kicks off $2.6 billion IPO

Global Logistics Properties attracts a stellar list of cornerstone investors who will buy one-third of the deal.

Global Logistic Properties GLP will start marketing today for what could become the largest initial public offering in Singapore ever. The company has already attracted a lot of interest among institutional investors as one of the largest providers of modern logistics facilities in China and Japan and also because it is being spun off from the Government of Singapore Investment Corp GIC, one of the city-state’s two sovereign wealth funds. 

An IPO sponsored by GIC as the major shareholder is a rarity, as is a deal of this size in Singapore, and this is one offering it has taken little effort to get investors to focus on even if it is coming to...

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