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Sign in Sign up for a FREE subscriptionGLP lists landmark $910m Chinese REIT
GLP announced that its Chinese real estate investment trust GLP C-REIT has successfully completed its IPO, becoming the first logistics C-REIT to be listed on the Shanghai Stock Exchange.
The IPO raised more than RMB 5.8 billion ($910 million).
Ahead of the public issue, GLP C-REIT was 52 percent precommitted by six cornerstone investors, including Taikang Life (20 percent), Shoucheng Holdings (10 percent), Dajia Investment Holding (8.39 percent), CICC Wealth Management (8.33 percent), CCB Trust (3.5 percent) and China Insurance Investment Fund (1.78 percent). GLP retains a 20 percent ownership interest in GLP C-REIT.
Teresa Zhuge, executive vice chairman of GLP China, said, “The listing of China’s first infrastructure REITs is one of the most awaited events for the industry and GLP is proud and honored to be the first international company to complete this landmark transaction. The oversubscription of our C-REIT is a very encouraging sign. We continue to s
