Singapore landlord finally hears its investors knocking
GLP's sale will release billions of dollars of shareholder value, but it comes belatedly.
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Singapore
GLOBAL Logistic Properties Ltd (GLP), a Singapore-traded landlord with a US$40 billion warehouse portfolio in China, Japan, Brazil and the US, was crying out for some honest-to-goodness investor activism. A little belatedly, Singapore's sovereign wealth fund is prodding it to release what could be billions of dollars of trapped shareholder value.
It is still not too late for GLP to open the locks, though it might have fetched a better price by hawking itself to a potential Chinese buyer when the mainland was more relaxed about capital outflows.
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