GLP targets $321 million in share sale

Books opened for a 293 million share sale in GLP J-Reit, which has a portfolio of 30 logistics facilities in Tokyo and Osaka.
GLP J-Reit's portfolio primarily consists of logistics facilities in Tokyo and Osaka
GLP J-Reit's portfolio primarily consists of logistics facilities in Tokyo and Osaka

The Japanese real estate investment trust of Singapore-listed Global Logistic Properties GLP aims to raise up to 32.8 billion $321 million in a share sale.

GLP J-Reit, which has a portfolio of 30 logistics facilities in Japan, mostly in Tokyo and Osaka, will sell up to 293,000 units with the discount ranging between 2% to 4.5% to the August 11 closing price of 114,100, according to a term sheet by FinanceAsia. Bankers began taking orders on Friday.

Of the shares on offer, 57.5% will be available to international institutional investors, with the Japanese tranche making up the remainder, the term sheet said. Bank of America...

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