News

GLP lists first logistics Reit on Shanghai Stock Exchange

Logistics conceptGlobal investment manager, GLP, is claiming a world first after launching a logistics-focused real estate investment trust (Reit) on the Shanghai Stock Exchange. According to GLP, it is the first logistics Reit to be listed on the Shanghai Stock Exchange. The initial public offering (IPO) raised more than RMB 5.8 billion (US$910 million) through the sale of 1.5 billion shares. The GLP C-Reit was oversubscribed, according to Teresa Zhuge, executive vice chairman of GLP China, who described the investor interest as an “encouraging sign”. “We continue to see robust investor demand for stable logistics and industrial assets and income streams in China and will continue to leverage our industry-leading team and portfolio to generate attractive returns for our shareholders,” said Zhuge. © 2021 funds global asia

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