Singapore’s GLP raises billions in IPO

Singapore’s Global Logistic Properties (GLP) has raised S$3.45 billion (US$2.6 billion) from the country’s largest initial public offering (IPO) in 17 years. The company, which priced its initial public offering at S$1.96 a share, is a unit of the Government of Singapore Investment Corp (GIC), and is run by Jeffrey Schwartz, deputy chairman of GLP […]


Singapore’s Global Logistic Properties (GLP) has raised S$3.45 billion (US$2.6 billion) from the country’s largest initial public offering (IPO) in 17 years. The company, which priced its initial public offering at S$1.96 a share, is a unit of the Government of Singapore Investment Corp (GIC), and is run by Jeffrey Schwartz, deputy chairman of GLP and a co-founder and former CEO of warehouse developer ProLogis. GLP owns, manages and leases 296 properties in 120 logistics parks and two lightassembly facilities parks across China and Japan. Its international customers include Wal-Mart, DHL, FedEx, UPS, Joyo Amazon, Sony and Panasonic.