GLP China REIT Raises $261 Million to Buy Logistics Facilities

(DealStreetAsia) — GLP China, the China arm of Singapore-based real estate investment group GLP, announced on Monday that its real estate investment trust (REIT) has raised about 1.853 billion yuan ($260.9 million) in a rights offering to bankroll expansion plans.

China-focused CICC GLP Warehouse Logistics Close-End Infrastructure Fund (CICC GLP REIT) issued as many as 438 million shares at about 4.23 yuan apiece, according to a regulatory filing. It will use the proceeds to acquire three logistics facilities across Shandong province, Guangdong province, and the municipality of Chongqing in eastern, southern, and southwestern China, respectively.