Is Singapore's stock market going to wither away in the manner of London's?
An exclusive from Reuters, November 29:
- GLP, which was listed in Singapore, went private in 2017
- Has a presence in 17 countries
- Relisting plan is partly fuelled by China's economic stimulus, says source
Logistics company GLP is considering a Hong Kong listing that could happen as early as next year, eight years after the Singapore-incorporated firm was taken private by an investor group, three sources with direct knowledge of the matter said.
GLP has held early stage discussions with a small number of financial advisers about the relisting plan, said two of the sources and a fourth person with knowledge of the matter.The timing of the listing and GLP's potential valuation in the offering are too early to be determined and would depend on market conditions, the two sources said.The firm's total net asset value has reached about $20 billion, said one of the two sources and the third source.GLP, which according to its website develops and operates logistics real estate, data centres, renewable energy and related technologies, with a presence in 17 countries including Brazil, China, Europe, India, Japan, the U.S. and Vietnam, declined to comment.The sources did not want to be identified as the information was confidential.GLP's plan to relist is partly fuelled by China's economic stimulus and property support measures released over the past few months that have led to an improvement in the country's stock markets, the fourth source said.GLP is a major commercial and logistics property manager and investor sentiment towards China's property sector would be a key factor in the company's relisting considerations, two of the sources said.The relisting in Hong Kong, if finalised, will be a major boost for the financial hub which has seen total listing value and number of deals decline in recent years....
....MUCH MORE
As we saw in September's "Singapore-Traded Grand Venture Technology Eyes Second Listing in Malaysia":
Malaysia IPOs have raised far more than Singapore this year
