Global logistics provider GLP is considering a Hong Kong listing in 2025.

From Investing.com: 2024-11-29 02:15:48

GLP is considering a Hong Kong listing next year, eight years after going private. Discussions with financial advisers are in early stages, with valuation and timing still undetermined. The firm’s net asset value is around $20 billion, with operations in 17 countries. China’s economic stimulus is driving the relisting plan.

GLP reported core earnings of $2 billion for the first half of the year, with data centre service income rising 54%. In 2017, a Chinese consortium acquired the firm for $11.94 billion. GLP recently sold its international asset management business for $3.7 billion. Vanke is looking to sell its 21% stake in GLP.

Hong Kong has seen a decline in listing value and number of deals, but GLP’s relisting could boost the financial hub. So far this year, companies raised $10.1 billion in Hong Kong listings, up from last year. GLP’s plan is influenced by China’s property support measures and investor sentiment in the sector.



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