GLP prices $1.3 billion Japan Reit IPO

The Japanese real estate investment trust of Singapore-listed Global Logistic Properties GLP, an owner of logistics properties, is set to raise 105.7 billion $1.28 billion from its initial public offering after fixing the price at the top of the indicative range.

GLP J-Reit’s initial portfolio comprises 30 logistics facilities in Japan most in Tokyo and Osaka valued at $2.6 billion, with an option to buy three additional assets during the next few years.

At $1.28 billion, it is set to be the second-biggest IPO in Japan in 2012 after Japan Airlines raised $8.5 billion from its offering in September, according to Dealogic. It is also...