TOKYO Dec 12 GLP J-REIT, a Japanese real estate
trust set up by Singapore's Global Logistic Properties Ltd
, will sell 111 billion yen ($1.4 billion) worth of
shares in its initial public offering in Japan after pricing at
the top end of the range, a government filing said on Wednesday.
GLP J-REIT, which will be Japan's largest public real estate
trust operating warehouses, priced the shares at 60,500 yen
each, at the top of the 59,500 yen and 60,500 yen range.
GLP is one of the world's largest warehouse operators. GLP
J-REIT has 30 properties in Japan valued at $2.6 billion.
The number of shares to be sold in Japan has been cut to
967,438 shares from 1.105 million, while the overseas portion
has been inreased to 779,662. Up to 87,400 more shares may be
sold, depending on demand.
GLP J-REIT will start trading on Dec. 21 and join its peers
Japan Logistics Fund and Industrial & Infrastructure
($1 = 82.3900 Japanese yen)
(Reporting by Junko Fujita; Editing by Richard Pullin)