GLP, the Singapore-headquartered logistics property manager, is preparing to raise up to $3B through an initial public offering in Hong Kong. The company is targeting a fourth-quarter listing that would value it at approximately $20B.
The deal structure and advisers
GLP has tapped a heavyweight roster of financial advisers to steer the offering. Citi, Morgan Stanley, Deutsche Bank, and Jefferies are all working on the deal.
The fundraising target has shifted across various reports. Earlier indications suggested the company could raise at least $1B, while more recent figures point to a ceiling as high as $3B.
The timeline targets execution as early as Q4 2025, though some reports have flagged 2026 as a possibility.
