Global Logistic Properties gets approval from Tokyo bourse for J-REIT IPO

Global Logistic Properties says it has obtained listing approval for J-REIT from the Tokyo Stock Exchange.

J-REIT will be listed on the Tokyo Stock Exchange and units of the J-REIT will be offered through an initial public offering to be undertaken in Japan, says GLP in a press statement.

However, GLP says "no public offering of units of the J-REIT will be made in Singapore".

The group says it will retain a unitholding interest of 15% in the J-REIT upon the completion of the initial public offering and has also agreed not to dispose its unitholding interest for a period of 360 calendar days after the delivery of the units to the group.