GLP gets SGX nod for proposed delisting

A property in the eastern Japanese city of Urayasu that belongs to Global Logistic Properties. GLP intends to dispatch the scheme document by Dec 1.
A property in the eastern Japanese city of Urayasu that belongs to Global Logistic Properties. GLP intends to dispatch the scheme document by Dec 1.PHOTO: GLOBAL LOGISTIC PROPERTIES

SINGAPORE - Global Logistic Properties (GLP) said on Monday (Oct 9) that the Singapore Exchange has approved in principle its proposed delisting and it intends to dispatch the scheme document by Dec 1.

If the scheme becomes effective, shareholders will receive S$3.38 in cash per share and GLP will be delisted from the SGX by April 14, 2018. GLP shares closed last Friday at S$3.30.

Nesta Investment Holdings, a Chinese private equity consortium backed by senior executives from GLP, won a bid to acquire GLP for S$16 billion in Asia's largest private equity buyout.