Singapore-headquartered logistics property manager GLP is preparing to raise up to $3 billion through an initial public offering in Hong Kong, targeting a fourth-quarter listing that could value the company at approximately $20 billion.
Citi, Morgan Stanley, Deutsche Bank, and Jefferies are advising on the deal.
GLP first listed on the Singapore Exchange in 2010 in a record IPO, then went private in 2018 to restructure and expand its investment management business. Choosing Hong Kong over Singapore signals the city's push to reclaim status as a premier listing venue for international companies with deep China ties.