BEIJING (BLOOMBERG) - Global Logistic Properties has begun formally reaching out to potential bidders for the US$7.9 billion (S$11.4 billion) industrial property owner, people with knowledge of the matter said.

The Singapore-based company sent out an information letter to targeted bidders at the end of last month and has asked for first-round offers by early February, according to the people. GLP attracted interest from suitors after announcing a strategic review in December, one of the people said, asking not to be identified because the information is private.

A deal for GLP could rank as one of the biggest-ever buyouts in Asia Pacific and would add to the US$215 billion of property and property-related deals involving firms in the region in the last 12 months, according to data compiled by Bloomberg. The company has been involved in US$1.3 billion of acquisitions in the past year, the data show.

Shares of GLP rose as much as 9.4 per cent Thursday in Singapore, hitting the highest intraday level since July 2015, before trading was halted pending an announcement. A spokesman for GLP declined to comment.

GLP said last month it appointed JPMorgan Chase to help conduct a strategic review of options to improve shareholder value, following a request from its biggest investor, wealth fund GIC. GLP said at the time it formed a special committee of four independent directors to oversee the review.

There's no certainty the process will lead to a sale, the people with knowledge of the matter said. GIC owns about 37 per cent of GLP, Bloomberg-compiled data show.

The company owns and operates a US$40 billion global real estate portfolio of 53 million square meters, according to a presentation to analysts this week. GLP has US$12.8 billion of assets in China and US$10.5 billion in Japan, as well as properties in the US and Brazil. It is considering selective expansion into new markets including Europe and the UK, the presentation shows.