Latest Global Logistic Properties: Global Logistic Properties has priced its initial public offering at S$1.96 a share, the top end of its range, in a listing that could raise S$3.9 billion, a prospectus filed with the Monetary Authority of Singapore showed Monday.? The real estate unit of sovereign-wealth fund the Government of Singapore Investment Corp. will offer 1.76 billion shares, including a placement of 589 million shares with cornerstone investors.
The cornerstone investors include Alibaba Group, CB Richard Ellis, Chow Tai Fook, ING Clarion, Lion Global, Nan Fung, Owl Creek Asset Management and Peter Lim.? The offer also includes an over-allotment option of 234.6 million shares, which if exercised would help it raise S$3.9, making it the second largest IPO in the city-state’s history after Singapore Telecommunication Ltd.’s (Z74.SG) listing in 1993, which raised at least S$4.0 billion.? If the overallotment option is fully exercised, the IPO will raise S$3.8 billion in net proceeds, which will be used to expand in China and Japan and for working capital and refinancing purposes.? The public offer closes Thursday. with listing on the Singapore Exchange on Oct. 18.? Citigroup and JPMorgan are the global co-ordinators and bookrunners for the deal. CICC, DBS and UBS are also bookrunners.???? -By Sam Holmes, Dow Jones Newswires; +65-6415-4157; samuel.holmes@dowjones.com d
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