The Government of Singapore Investment Corporation (GIC) has said its logistics arm could seek to raise as much as S$3.9 billion in its initial public offering.
This would make it the country’s second-biggest IPO.
Global Logistic Properties has set an indicative price range of S$1.78 to S$1.96 per share.
According to its prospectus, the IPO will comprise up to nearly two billion shares, including for cornerstone investors and over-allotment.
The IPO opens on October 11 and the shares are expected to start trading on October 18.
The proceeds will go towards supporting growth plans in China and Japan.
Citigroup and JPMorgan are joint global coordinators and book runners with UBS, DBS and CICC.
Source : Channel NewsAsia – 27 Sep 2010