Company Briefs: Econ Healthcare

Private nursing home operator Econ Healthcare yesterday commenced operations at its first nursing home in China.

The nursing home is a joint venture project with the group's partner, Chongqing Guangda Bailingbang Eldercare Industry. Econ Healthcare and the partner hold a 60 per cent and 40 per cent stake in the venture, respectively.

The 44-bed Econ Medicare Centre and Nursing Home - Chongqing is in the Jiefangbei area, the central business district of Yuzhong District in Chongqing.

THE BUSINESS TIMES

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GLP

Property investment company GLP has sold the world's largest US-dollar green subordinated perpetual offering.

It priced a landmark US$850 million (S$1.1 billion) offering of green subordinated perpetual securities at a coupon of 4.5 per cent, GLP said.

The offering was upsized from the initial target size of US$500 million, with the order book more than six times subscribed.

The green perpetual securities are not callable for the first five years.

THE BUSINESS TIMES

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JD Logistics

JD Logistics, the delivery arm of e-commerce giant JD.com, is seeking to raise as much as HK$26.4 billion (S$4.5 billion) in its Hong Kong initial public offering, seizing on China's online shopping boom sparked by the coronavirus pandemic.

The warehousing and shipping company is selling 609.2 million shares at HK$39.36 to HK$43.36 each, according to a statement published in the South China Morning Post. The company started taking investor orders yesterday and is set to begin trading on May 28. The deal is expected to be priced on May 21.

BLOOMBERG