GLP becomes first logistics C-REIT to list on Shanghai Stock Exchange after $910m IPO


Source: dealstreetasia.com dealstreetasia.com

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GLP C-REIT has become the first logistics Real Estate Investment Trust to float its shares on the Shanghai Stock Exchange (SSE) after it raised over 5.8 billion yuan ($910 million) in an initial public offering (IPO) on Monday. GLP C-REIT sold 1.5 billion shares at a price of 3.89 yuan apiece in the oversubscribed IPO. On Tuesday, the shares opened at 3.97 yuan and closed at 3.90 yuan. GLP C-REIT’s shares are listed under the symbol “508056” on the Stock Exchange of Shanghai. Chinese investment firm China International Capital Corporation Limited (CICC) served as the lead underwriter of the IPO....