Shares of Global Logistic Properties (GLP) gained on the Singapore Exchange, closing 0.93 per cent higher at $2.16 on Wednesday. Investors were cheered by news that it was acquiring a 53 per cent stake in Airport City Development, developer of the Beijing Capital International Airport's cargo handling area. Analysts see the acquisition as a positive for the Singapore-listed warehouse company as China's...
Global Logistic Properties
Global Logistic Properties (GLP), a unit of the Government of Singapore Investment Corp, is in talks to acquire a majority stake in China's Airport City Development, people familiar with the matter said yesterday. Airport City Development, which is 40 per cent-owned by Beijing Capital International Airport (BCIA), is the sole developer of air cargo handling and bonded warehouse logistic facilities for...
Global Logistic Properties (GLP) will acquire a 19.9-per-cent stake in Shenzhen Chiwan Petroleum Supply Base, for $91 million, in a move that will strengthen its market position in China. GLP, a unit of the Government of Singapore Investment Corp, said the stake would be acquired through its subsidiary, China Logistics Holding. The subsidiary has entered into an agreement to buy 45.89 million shares for...
Global Logistic Properties Ltd (GLP), reported on Monday its second quarter net profit rose 179 percent from a year ago, helped by higher rental income, a stronger yen and revaluation gains. GLP, a real estate unit of the Government of Singapore Corp, owns warehouses and other logistics assets in China and Japan Net profit for the quarter ended September 30 rose to US$74.2 million compared with US$37.4...
Shares of Global Logistic Properties (GLP) had a sparkling debut on the Singapore Exchange (SGX) on Monday. The stock rose 10.7 per cent on its first trading day to close at S$2.17, up from its offer price of S$1.96 a share. GLP, a real estate unit of the Government of Singapore Corp (GIC), was also the most actively traded stock on SGX. The counter saw a hefty 514 million shares changing hands, valued...
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...
The Government of Singapore Investment Corporation (GIC) may sell just a minority stake in the listing of Global Logistic Properties (GLP) that is expected to raise a record US$3 billion ($4.01 billion). According to a Reuters report yesterday that cited unnamed sources, GIC may offer shares of its logistics unit at 1.3 to 1.4 times book value in its initial public offering. GLP develops and manages...
Sovereign wealth fund Government of Singapore Investment Corp (GIC) is expected to list its logistics unit on the Singapore Exchange on October 15. The initial public offering (IPO) of Global Logistic Properties (GLP) aims to raise up to US$3 billion in what could be Singapore's biggest IPO. If successful, the IPO would be bigger than SingTel's S$4 billion (US$2.9 billion) listing in 1993, and dwarf...