People familiar with the matter reported that Singapore-based logistics firm GLP is worth approximately $20 billion with a Hong Kong initial public offering that could occur as early as this year.
GLP has been negotiating the potential offering with such advisers as Citi and Morgan Stanley. The sources indicate that the offering size and timeline had not been finalized.
According to the rules of Hong Kong’s stock exchange, large-capitalization companies will float at least 15 percent of their shares in an IPO.
The sources refused to be identified due to the fact that the information they provide is confidential. GLP, Citi, and Morgan Stanley declined to comment.
Assuming successful completion, the offering would introduce another marquee name to an invigorated Hong Kong equity capital market and shine, given that the pipeline of IPOs in the city is filled with China-based firms.
The data from HKEX and LSEG stated that Hong Kong, which led the world in IPO fundraising last year, started 2026 with a healthy pipeline and is off to the best start since 2021, as of January, with approximately 5.5 billion raised in IPOs and second listings.
GLP would be returning to the open markets in Hong Kong after it was privatized on the Singapore stock exchange in 2017 in a S16 billion deal that was financed by a group of investors supported by the company CEO, Ming Mei.
However, among the investors that privatized GLP were Hopu Investment, Hillhouse, the investment arm of Bank of China, and Ping An Insurance Group.
The website indicated that GLP is a global thematic investor and business creator specializing in logistics real estate, digital infrastructure, renewable energy, and associated technologies.
It added that the company has more than $80 billion in assets under management across real assets and private equity. GLP has, over the last few years, shifted towards building its capital base as well as reshaping its business.
A completely owned subsidiary of the Abu Dhabi Investment Authority agreed to invest up to $1.5 billion in GLP in August.
GLP completed the sale of GCP International to Ares Management in a deal that included $3.7 billion upfront and a potential earn-out of up to $1.5 billion in March 2025.
