TOKYO Feb 4 Nippon Prologis REIT, a real estate
trust set up by U.S. warehouse operator Prologis Inc,
said it would sell 100.3 billion yen ($1.08 billion) worth of
shares in an initial public offering, pricing the stock at top
of the range.
Nippon Prologis, which owns and manages warehouses across
Japan, priced the stock at 550,000 yen from a range of between
510,000 yen and 550,000 yen, according to a public filing made
Japan's Topix index has rallied 11 percent this year, while
the index for Japan's real estate trusts has gained 10.5
Nippon Prologis stands in a good position as demand for
modern warehouses is expected to grow further in Japan as volume
of Internet shopping is set to increase.
Nippon Prologis will sell 182,350 shares in Japan and
overseas, of which 109,645 shares will be sold in Japan - fewer
shares than it had planned.
Instead it boosted the number of shares sold overseas to
72,940 shares from 54,705 shares. As many as 9,118 shares may be
sold additionally depending on the demand.
Prologis's Japanese unit serves for Japanese ecommerce giant
Rakuten Inc, a home electronics maker Panasonic Corp
, a major transport company Nippon Express Co
Nippon Prologis will start trading on Feb. 14.
($1 = 92.6100 Japanese yen)
(Reporting by Junko Fujita; Editing by Jeremy Laurence)