GLP debuts on the Singapore exchange

Shares of Global Logistic Properties had their debut on the Singapore Stock Exchange (SGX) on Monday.

GLP, which manages hundreds of properties across Japan and China, is the first listing of a firm majority-owned by the Government of Singapore Investment Corp (GIC).

It priced its initial public offering at the top of its indicative range in a listing that could raise as much as $3bn. The company advanced to S$2.17 ($1.67) at the close of trading from the sale price of S$1.96 ($1.51) a share.

Mariko Oi spoke to Global Logistic Properties Deputy Chairman Jeffrey Schwartz who said the business was particularly strong in China.

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