.jpg)
1 hour ago
2
Article content
(Bloomberg) — Investment firm GLP Pte has selected banks for a Hong Kong initial public offering that may take place as soon as the first half of 2026, according to people familiar with the situation.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The Singapore-based company has picked Citigroup Inc., Deutsche Bank AG, Jefferies Financial Group Inc. and Morgan Stanley to manage the share sale, the people said, asking not to be identified discussing a private matter.
Article content
Article content
Deliberations are ongoing and details such as the offering size and timing haven’t been finalized, the people said. GLP might also decide against pursuing a listing in the end, they added.
Article content
Article content
Representatives for GLP and Morgan Stanley didn’t respond to requests seeking comment. Citi, Deutsche Bank and Jefferies declined to comment.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
GLP, which regards its data center business as a significant growth driver, invests in sectors including digital infrastructure, logistics and renewable energy. The company’s revenue was $1 billion in the first half of 2025.
Article content
GLP listed in Singapore in 2010, raising S$3.9 billion ($3 billion) before agreeing in 2017 to a S$16 billion buyout — a record for Asia — by a Chinese consortium including private equity firms Hillhouse Investment, Hopu and now distressed developer China Vanke Co.
Article content
Last year, it sold GLP Capital Partners Inc.’s non-China operations for $5.2 billion to Ares Management Corp. GLP has also tried to sell its China operations, but didn’t reach an agreement with a state-owned buyer. GLP secured a $1.5 billion investment from Abu Dhabi Investment Authority in August.
Article content
On Vanke’s latest debt challenges, advisers including Houlihan Lokey Inc. have begun approaching the developer’s offshore bondholders. Creditor recovery depends more on Vanke’s tangible assets, chiefly its 21% stake in GLP, Bloomberg News reported this month.
Article content
English (US)