【New Stock IPO】Prologis GLP reportedly to file for Hong Kong IPO as early as Q2, planning to raise over $1 billion

Singapore-based logistics and warehousing provider GLP Pte is repeatedly rumored to be planning a listing in Hong Kong. IFR quoted sources saying that GLP could submit its IPO application as early as the second quarter of this year, aiming to raise at least US$1 billion, equivalent to HK$7.8 billion. Citi, Deutsche Bank, Credit Suisse, and Morgan Stanley are arranging the IPO.

Founded in 2009, GLP focuses on logistics, big data, and new energy infrastructure. Its operations span 17 countries worldwide. According to its official website, the company currently manages assets worth US$80 billion and has raised and manages over 48 private real estate and equity investment funds. In China, it invests in and develops, manages 450 logistics warehouses and manufacturing infrastructure; data center IT load is about 1,400MW; and its new energy development scale exceeds 2GW.

GLP was listed in Singapore in 2010 and was privatized in January 2018 by a consortium including Vanke (02202), Hopu Fund, and Hillhouse Capital, at a price of S$15.9 billion (about HK$92.8 billion).

Since then, GLP has repeatedly been rumored to pursue a Hong Kong listing. As early as 2021, there were reports that the company planned to list via a REIT in Hong Kong, raising about US$1.6 to US$2 billion, with a planned listing in December of that year. Rumors of a Hong Kong listing resurfaced in 2024 and 2025, but so far, none have materialized.

For updates on new stock listings, visit 【New Stock IPOs】.

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