Auzzi Shopping

Men's Weekly

.

GLP C-REIT makes history with $260 million follow-on offering on Shanghai Stock Exchange

  • Written by Auzzi Shopping

Offering was supported by 16 domestic institutional investors and represents an important step towards greater securitization of the China real estate sector

SHANGHAI, CHINA & SINGAPORE - Media OutReach - 19 June 2023 - GLP C-REIT (SSE: 508056) has completed a landmark follow-on equity offering of RMB 1.85 billion (~$260 million) and the new shares have started trading on the Shanghai Stock Exchange (SSE).

The placement was supported by 16 leading domestic institutions including asset management firms, securities companies, and insurance companies.


GLP C-REIT is the first logistics warehousing onshore REIT to be listed on SSE and one of the first non state-sponsored C-REITs to participate in the growth of China's publicly traded REIT program. In addition to being chosen as part of the inaugural listing batch in June 2021, GLP C-REIT demonstrated its growth potential by successfully completing a secondary offering in June 2023, a distinction shared by only three other C-REITs.

"This announcement marks an important first for us and the market overall. Logistics remains one of the pillar industries to support economic growth in China and we are honoured to contribute to the establishment of a significant instrument for real estate securitization which supports long-term growth of the market. As the C-REIT market continues to grow in size and liquidity, we are in a strong position to accelerate our asset monetization strategy and grow our AUM," said Teresa Zhuge, Executive Vice Chairman and President, China at GLP Capital Partners Limited.


Proceeds of the secondary offering will be used to acquire three logistics facilities – GLP Park Qingdao Qianwan Port, GLP Park Jiangmen Heshan and GLP Chongqing Urban Distribution Logistics Centre, expanding GLP C-REIT's portfolio to comprise 10 modern logistics assets with net leasable area of 1.16 million square meters and total installed solar capacity of 32.4 MW. The assets are located in core logistics markets of Greater Beijing, Yangtze River Delta region, Guangdong-Hong Kong-Macao Greater Bay Area and Chengdu-Chongqing Economic Circle. The average occupancy rate of the portfolio was 91.55% as of December 2022 and is leased to customers in biomedicine, manufacturing, third-party logistics services and e-commerce industries.

Hashtag: #GLP #logistics #realestate #fundraising #GCP


The issuer is solely responsible for the content of this announcement.

GLP Capital Partners

GLP Capital Partners ("GCP") is a leading global alternative asset manager that focuses on thematic investing across real assets and private equity. With $125 billion in total assets under management across 54 funds as of 31 March 2023, GCP has a strong history of leadership in high-growth Asian markets and a track record of success at scale in the US, Europe and Brazil. GCP is the exclusive investment and asset manager of GLP Pte Ltd. To learn more about GCP, visit .

Today's Features at Auzzi

Why Flyscreens Are a Must-Have for Every Sydney Home: Installation Tips and Benefits

Sydney is known for its warm climate, coastal breezes, and outdoor lifestyle. But with the open windows and doors that come with summer living, there’s one major downside: insects. From ...

Top Bathroom Renovation Ideas for Sydney Homes

Renovating the bathroom not only changes the appearance of your house but also its functionality and ambience. Whether you want a full renovation or a spot touch-up, the proper design sele...

What is First Five Forever and How Can You Nourish a Tiny Brain?

Targeted at children aged 0-5 years, First Five Forever is a Queensland State Government initiative designed to support early childhood development. With the key message being, ‘Talk, r...

A Comprehensive Guide to Stress-Free Solar and Battery Integration

Solar energy has become a leading alternative in a world where the demand for sustainable energy is growing. Although using solar to generate energy is wonderful, combining it with battery s...

Why Container Domes Are the Ultimate Solution for Affordable Housing

Imagine residing in a house that is not only reasonably priced but also distinctive and environmentally responsible. Presenting container domes, a cutting-edge housing option that is revolut...

Step-by-Step Guide to Setting Up Your Free Online Store on MarketTram

MarketTram is a Sydney-based platform that lets you publish unlimited free regular ads, which makes it a low-risk way to start selling. The site focuses on simple listing, local trade and ...

Mining and Infrastructure Surveying Services in Western Australia: What to Know

Western Australia runs on big projects. Iron ore in the Pilbara, gold across the Goldfields, rail expansions and new energy hubs all rely on precise spatial data. Surveying underpins that ...